As a result, the Reno housing market has gone from moribund to scorching. As of February, the median home price in the metropolitan area was about $340,000, more than double its recessionary trough of about $150,000, according to Zillow. The inventory of homes for sale was down 22 percent from a year earlier, according to Redfin, and sales were happening at a much faster clip. The typical home for sale was under contract in 55 days, 24 days faster than a year earlier. Today the typical Reno rent is just under $1,700 a month, up about 30 percent from five years ago, according to Zillow.

Source: New York Times March 20, 2018 06:56 UTC