Home sales statistics around the country continue to point to a slow recovery of the economy. History will show that after a sharp dive, it takes time, even years – for the market to turn around.
Is that true today in Northern Nevada? What does the future hold for Nevada’s housing industry?
Yesterday, the Builders Association of Northern Nevada (BANN) hosted the Midyear Construction Review. Mark Krueger, Senior Vice President of Land Division at Grubb & Ellis|NCG, discussed existing conditions and future trends in the residential market, and also provided an update on home sales and recent land purchases in the area.
“Market conditions remain very challenging but with land prices at 25 year lows, builders and investors are finding opportunities that make sense.”
If you missed Krueger's presentation, you can download it here.
The Review also featured a presentation from Brian Bonnenfant, Project Manager, Center for Regional Studies at UNR. Bonnenfant addressed Nevada's most recent unemployment figures and pointed to a growing population in Washoe County. To download Bonnenfant's presentation, click here.
Bob Nielsen, Chairman of NAHB, also addressed the pent-up demand for new homes that will in turn drive the housing market, as well as the actions needed in Congress to create an upward movement in the housing industry.
Finally, we've included video of the local media coverage from KTVN Channel 2..
We will post articles from KRNV News 4, the Reno Gazette Journal and the Northern Nevada Business Weekly as they are made available.
If you have any questions, please feel free to call the Builders at 775.329.4611.
