Over the last few years, we have seen a tremendous boom in our population in Northern Nevada; during the pandemic and even beforehand, we have seen people draw to Reno like moths to a flame. The inpouring of transplants from all over (and hey, I'm one of 'em, so watch what you say) has caused our housing market to respond accordingly. Let me say this; Reno has always been a great place to live - being stuck at home during the pandemic just made more people recognize this.
After a frenzied two years in the pandemic housing market, we are starting to see regional conditions cool off - which has drawn the attention of those still shopping for a home. It is no secret that our market has begun to see price reductions and additional inventory hit the market - which is great news to anyone thinking about purchasing a home here.
To assemble the ranking, Realtor.com examined housing data from the 250 largest cities in the nation. This data is a compilation of multiple factors like the ratio at which sellers are cutting prices, the amount of inventory compared to the size of the city, average days on the market, and more, to determine the most buyer-friendly housing markets. The Biggest Little City that we know and love has ranked #7 overall in the top ten best cities to purchase a home, according to Realtor.com.
All of this is to say that our market has become a much more favorable place for buyers to be. If you've held off on your home search due to fear of the bidding wars, multiple offers and the other things that buyer's nightmares are made of, now is the perfect time to start your search.
As a seller, now is still a great time to list to find a serious buyer and have an easier time being able to secure your next home with less competition.