The housing market continues to sky-rocket in the Reno and Sparks area and now local businesses are starting to benefit from home sales.
Businesses like The Home Depot are seeing a boost in sales due to steady recovery of the housing market. Experts say more people are investing in their homes after they buy and before they sell.
In July home sales were up 11.9% with 593 units compared to 530 units in July 2014, according to the Reno/Sparks Association of Realtor's July market report. “In June we had 916 homes sold and last quarter was a record of most homes sold last quarter over any quarter over the last 10 years,” said Justin Hertz. With the housing market on the rebound the benefits are starting to hit local businesses. “Our home sales trickle down to every other element of our economy. So from Home Depot, to Lowe's to painters to handymen,” said Hertz.
We went to The Home Depot to see how sales have been. We talked with Chhary Sieng who has worked at the company for more than nine years and says so business has been great. “It’s definitely increased our business especially in certain areas of the store,” said Sieng. From new home owners to people trying to sell, we’re told there a big demand for revamping kitchens, bathrooms and installing new floors. “It's just the upgrades, you know for instance kitchens getting their counter tops upgraded, getting the cabinets refaced,” said Sieng.
In Realtor Justin Hertz’s experience, he says some of the first things homeowners upgrade are kitchens and bathrooms. “You can do a kitchen or a master bath remodel typically for right around $20,000,” said Hertz.
Hertz says right now there isn't a significant trend when it comes to people buying. “Any house that is sort of in the price range of $250,000 to $400,000, that's our sweet spot. Our median home price right now is $292,000,” said Hertz.
With a growing market on our hands, we're told it's a great sign for our economy. “Even going into Winter, I think our market is going to stay strong because the demand is extremely there,” said Hertz.
To stay on top of the business increase, The Home Depot is adding more jobs, both full time and part time positions to all stores in the Reno and Sparks area.
To apply, visit: http://careers.homedepot.com/
