Washoe County’s residential market, similarly to the national market, has been heavily impacted by the recession. With Nevada leading the nation in the number of foreclosed and distressed properties, Washoe County saw its share of lost home values and “underwater” properties.
*Previous period refers to the same period in the previous year. For example, April 2011 data is compared to April 2010 data.
Washoe County is showing little recovery in the residential market. While the price and size of new homes increased from the previous year, the number of new homes fell significantly and new homes still make up a small portion of the residential market. For existing homes, median prices continue to decline and the number of foreclosed homes continues to grow.