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Found 79 entries about Reno Economy.

The manufacturing worker base hit a record high of 5% of Nevada’s employment landscape. This increase reflects the shift and diversification of the local economy that we have been seeing for the past decade or so. 

 

The Silver State has now exceeded the number of jobs that were within the state prior to the start of the pandemic. The hospitality industry interestingly has remained at 33,000 jobs short of pre-pandemic levels. Economists are unclear if it is due to cost-cutting or if workers have voluntarily left the industry. 

 

Seven companies relocating to or expanding within Nevada will bring hundreds of jobs to the region and pay average hourly wages ranging from $30 to $45. Nevada’s labor force is made up of more than 1.1 million

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Now is a great time for buyers to get into the market! Price reductions, seller concessions, and less competition are giving buyers a bit more leverage as the market begins to shift. Home prices are still at record highs and rising, so for sellers looking to get top dollar for their home, the time to sell is now. Read on for all of the latest details!

 

What's Ahead for Luxury Sales:

  • The luxury market is "normalizing" as rising interest rates, inflation, and economic security have put a damper on demand
  • Swift change at national level has taken longer to reach Northern Nevada
  • In June, the number of luxury homes on the market increased 151% YOY
  • In June, the number of luxury homes sold declined by 12.5%

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Summer has finally arrived! There are so many wonderful and diverse events all summer long in the Reno-Sparks and Lake Tahoe region. We put together some of our favorites and the list got a little long. What can we say, living in northern Nevada is exciting! 

 

The Lake Tahoe Outdoor Arena at Harvey’s

Now - September 2022

The Lake Tahoe summer concert series in not to be missed. Hosting some of music’s names in its 4,000-seat amphitheater, this iconic Tahoe venue is right on the water’s edge. This summer’s series includes Norah Jones. Kenny Chesney, Dave Matthews Band, Jack Johnson, and more. 

 

Reno is Artown

The month of July

Reno transforms into Artown during the entire month of July! Enjoy exciting and engaging art-centric

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Breaking ground in Reno, the Kimpton hotel is slated to open in 2025.

 

Las Vegas-based CAI investments has chosen the Biggest Little City for its next property investment. With properties in other states like Arizona and Florida, CAI is also working on two big projects in the downtown core of Reno. 

 

CAI is also renovating the former Harrah’s Reno hotel-casino into a mixed-use residential and commercial project that will later be known as the Reno City Center. The project already has Clear Capital promised as its first major office tenant and just opened a new Starbucks. Construction continues to move forward and the first residential units should be open sometime this year. 

 

“I mean, Las Vegas doesn’t have a Kimpton,” CAI CEO Chris

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Economic and demographic factors often play a large role in the achievement of the American Dream of owning a home. Millions have this common goal, however the economy can be a limiting or improving factor. Even with a recent pandemic, the United States homeownership rate stood at 65.5% in 2021.

 

ZeroDown, a real estate platform, analyzed data from the Census Bureau’s Housing Vacancies and Homeownership Survey to determine which states have had the highest growth in homeownership over the past ten years. To break any ties, data from 2021 was used. 

 

The homeownership rate is defined as the share of houses in the state that are owner-occupied as opposed to being rented or operated as an investment property. The numbers below are actually

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Spring is here and we can feel the buzz of excitement in the air. The first quarter of 2022 was strong for luxury sales. More homes came on the market this year than last year, but they are selling more quickly. The market is no doubt more competitive than ever as Northern Nevada continues to be the ultimate place to live on the west coast.

Read on for all of the latest details!

 

What's Ahead for Luxury Sales:

  • First quarter luxury sales, homes sold for $1 million and above, were up 42.2% over the first quarter of 2021
  • Listing in the spring months (March - May) is the best time for sellers in 30 of the 35 largest U.S. metro areas to get the highest price
  • Work-from-home opportunities and low state taxes continue to prompt U.S.
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Source: Dickson Realty

Published on February 22, 2022 by Beau Keenan

The economy in Reno and Sparks has grown significantly over the last decade, and it’s had a significant impact on the people, businesses, jobs, and communities in the greater Northern Nevada region. And while this growth has benefited the economy with robust, evolving industries and greater personal wealth, it has also raised critical questions about city infrastructure, workforce turnover, and housing affordability.

These are all questions Dickson Realty addressed during its annual Economic Summit, where Brian Bonnenfant, the Project Manager for the Center for RegionalStudies at the University of Nevada, served as one of the keynote speakers. With his in-depth knowledge,

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In 2021, the team at Luxury Reno Homes produced top results in Reno-Tahoe luxury real estate.

Working together as one, Brooke Sullivan, Monica Gore, and Heather Neal bring more than 35 years of diverse luxury sales experience to the table. Not only do you get three agents for the price of one, but they offer a database of 10,000 qualified clients that are looking to buy.

In each neighborhood that they represent, they have represented more transactions than any other agent on both buyer and seller sides. With a strong list of qualified buyers, they can make deals happen oftentime before properties even hit the market.

Dickson Realty has awarded Luxury Reno Homes as the Number One Top Producing Team in 2021.

 

The Club at ArrowCreek

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With the highest concentration of ski resorts in North America, it’s no wonder Reno-Tahoe is home to so many Winter Olympic athletes. For the third straight winter event, local athletes won a region-best four medals. This year, Reno’s David Wise won the silver medal in the ski halfpipe, to add to this previous collection of two gold medals.

Northern Lake Tahoe played host to the 1960 Olympic Games in Squaw Valley, one of the largest ski areas in the United States. The popular landmark has served as inspiration for everyday skiers and local Olympic hopefuls. Since the games, visitors have come to ski at Palisades Lake Tahoe Ski Resort on the mountain that Olympians jumped in the 60’s and to see the tribute sign with the Olympics Rings near the ski

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How will luxury sales trends change this year?

The 2021 Luxury Trends report has arrived and what a year it was. The luxury real estate buying boom, which started in 2020, grew frantic in 2021. In both years, luxury buyers headed to less populated areas to escape pandemic fears and restrictions and gain some much needed space while spending a lot of their time at home. 

Read on for all of the latest details!

What's Ahead for Luxury Sales:

  • Low standing inventory which will continue to increase (or maintain) prices
  • New construction for luxury homes will be hampered by supply chain issues, rising cost of materials, and labor shortages
  • Most, but not all, luxury buyers will want a move-in ready home with little to no remodeling or updating
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