Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place to help support those in need. First, there was a pause placed…
The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more? Here’s a look at what several industry-leading experts have to say.…
As we enter the final months of 2020 and continue to work through the challenges this year has brought, some of us wonder what impact continued economic uncertainty could have on home prices. Looking at the big picture, the rules of supply and demand will give us the clearest idea of what is to come.…
One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), is now forecasting that more homes will sell this year than last year. He’s also predicting home sales to increase by 8-12% next year. There’s strong evidence that he will be right. ShowingTime, a leading showing…
Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to stabilize, but it is evident that the…
As remote work continues on for many businesses and Americans weigh the risks of being in densely populated areas, will more people start to move out of bigger cities? Spending extra time at home and dreaming of more indoor and outdoor space is certainly sparking some interest among homebuyers. Early data shows an initial trend…
Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home. According to Zillow: “In 2020, homes went from the…
It’s no secret that the COVID-19 pandemic has taken a significant toll on local Sparks and Reno business owners, especially restaurants and bars. Even as some new eateries open, many other long-time favorites have closed their doors. In this environment, we believe it’s important to support local businesses and organizations to help keep them alive. After…
Current data doesn’t reflect negative fallout, but the industry remains cautious The real estate market was dealing with its own challenges heading into 2020 – including affordability and limited inventory – but there are concerns the coronavirus crisis may deal a heavy blow to the sector. In March, preliminary data showed the situation has begun to negatively affect both…
RENO, Nev. (KOLO) — The Reno/Sparks Association of Realtors released the March 2020 market report. Global Real Estate Advisor for Sierra Sotheby’s International Realty Dave Johnson says the strong housing market numbers in northern Nevada amid the COVID-19 pandemic tells a deeper story, “The fundamentals of real estate are quite strong and we still have quite…
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