Housing prices in Reno/Sparks are up 9% over last year this time, and my investor clients keep asking if the trend will continue (while my first-time homebuyers want to know when the bargains will return.) The answer to both lies in the Job Market.  Tesla aside, Reno has seen more than 100 new companies move to the area over the past five years. That economic growth has driven the price of homes up. Click here for a list of Reno homes priced under the $500k sweet spot.

A press release from the Economic Development Authority today notes that 27 new and expanding companies relocated to Reno this year so far, including Mishimoto Automotive, a manufacturer and distributor of high performance cooling systems.

"Mishimoto looked at several locations in the Western U.S.," said Chris Valis, Vice President of Global Logistics Support for Mishimoto Automotive. "Proximity to our customers was a key factor. It became very apparent that this was where we needed to be to grow our business and take it to the next level."

"2016 was another impressive year, with 27 new and expanding companies adding close to 3,000 new quality jobs to the region over the next few years," said Mike Kazmierski, President and CEO of EDAWN. "We are also very excited to welcome Mishimoto Automotive to Nevada. Our Business Development team expects to make several more new company announcements in the coming weeks."  With the help of our many community partners, EDAWN will continue to work hard to attract, retain and grow the quality jobs our community needs as we build and strengthen our economic future."

Posted by Jackie Ginley on
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