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Nevada Real Estate Stats and Trends for 2023

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Nevada Real Estate Stats and Trends for 2023


NEVADA In the event you’re trying to spend money on Nevada actual property, now’s the time to do it. The housing market is at present using a wave of document costs and rising gross sales, and this pattern is anticipated to proceed within the coming years. Residence values within the Las Vegas-Henderson-Paradise Metro and Las Vegas Metropolis have already reached document highs and are anticipated to proceed to rise.


Las Vegas, Actual Property Market, Is Driving A Sizzling Streak Of File Costs And Rising Gross sales Regardless of The Bleak Economic system

Regardless of the awful financial system, the Las Vegas actual property market is using a high-speed curler coaster of rising costs and gross sales. The tempo of latest house development has declined previously 5 months, though multifamily development is up about 20 p.c from final yr. The financial system faces challenges associated to the provision chain and persistently excessive inflation.

Whereas inflation is close to four-decade highs, the financial system nonetheless exhibits indicators of restoration. The S&P 500 is up 7% from its 2022 low, whereas the unemployment fee is at a half-decade low. In the meantime, the Federal Reserve is pursuing an aggressive rate-raising technique, which can be serving to the market.

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Rents Are On The Rise

The forecast for Nevada rental properties exhibits that rents will proceed to rise. In line with the Federal Reserve Financial institution of Dallas, annualized hire value will increase will attain 8.4% by 2023.  This development fee is anticipated to proceed regardless of rising mortgage prices and a housing scarcity.

The low provide of commercial area contributes to the upward motion in rental charges. Within the second quarter of 2021, the typical asking triple-net lease fee was $.59 per sq. foot, however this quantity shot as much as $.81 within the third quarter of the yr. This enhance was partly pushed by costly flex and lightweight industrial buildings, which artificially inflate the asking fee. Whereas the basics of the commercial market in Northern Nevada stay robust, there are issues over the capital markets.

Along with the rising demand for rental properties, Las Vegas can also be changing into a enterprise and leisure hub. Whereas Las Vegas is named the world’s leisure capital, it’s changing into a vacation spot for individuals and companies from around the globe. The tax-friendly surroundings has helped make town fascinating for traders and property homeowners.

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Worry Of Lacking Out On Nevada Actual Property In 2023

Within the yr 2023, house costs in Nevada may start to say no. This concern of lacking out is fueling the present euphoria. Nonetheless, this wave of optimism is predicated on a poor understanding of future traits. Residence costs may fall because the financial system struggles to recuperate from the latest recession.

 



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Nevada

Washoe County School District remains second largest district in Nevada… barely • Nevada Current

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Washoe County School District remains second largest district in Nevada… barely • Nevada Current


Enrollment at state-authorized charter schools continues to outpace growth at traditional public school districts in Nevada, official enrollment counts show.

Washoe County School District (WCSD) remains Nevada’s second largest public school district, but the gap between it and the State Public Charter School Authority (SPCSA), the quasi-district that authorizes the vast majority of charter schools in the state, has narrowed to fewer than 650 students.

Last year, the enrollment gap between the two local education agencies was around 2,800 students.

SPCSA now enrolls 63,609 students while WCSD enrolls 64,244 — a difference of 635 students. SPCSA grew its enrollment by 2.7%. WCSD saw its enrollment drop by 511 students, or 0.8%.

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WCSD and SPCSA enroll 13.3% and 13.1% of Nevada public school students, respectively.

In January 2024, the state Charter School Board approved the opening of a charter school in Northern Nevada despite strong opposition from WCSD, which argued that the school was planned for an area where existing public schools were not overcrowded and that the charter school had not provided them or the public with enough time to review and provide input on the plans.

This Is Reno earlier this month reported that WCSD plans to lobby for legislation discontinuing the use of educational management organizations (EMOs), a move that would likely curb growth of charter schools in Northern Nevada. 

EMOs are often involved with charter schools from their inception, helping constitute the board that applies for the charter school license from the state and helping set up the lease for the building. Once the charter school is open, EMOs third-party services like payroll, human resources management, or curriculum in exchange for a percentage of the per-pupil student dollars the schools receive from the state.

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The majority of charter school students in Nevada are associated with schools contracted with the same EMO, Florida-headquartered Academica.

SPCSA enrollment has more than doubled in the last eight years, growing from around 30,600 students in 2016 to around 63,600 in 2024. The SPCSA has already approved multiple charter schools to open or expand next year, putting them on a clear path to overtake WCSD in overall enrollment.

Enrollment in charter schools is expected to continue to rise, though some of that growth may be outside of the SPCSA. Earlier this year, the cities of Henderson and North Las Vegas received approval from the state to become charter school authorizers.

Both cities have indicated they plan to authorize and open charter schools for the 2025-26 school year. The cities will also have the option of absorbing existing charter schools that are currently authorized by the SPCSA. If those plans come to fruition, their enrollment would not count toward SPCSA totals but would raise the overall number of students served by charter schools instead of traditional public schools.

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Clark County School District remains the state’s largest school district, by far, enrolling 306,038 students, or 63% of kids enrolled in public schools. CCSD enrollment dropped by 3,359 students, or 1%.

All other public school districts in Nevada make up a combined 10% of statewide enrollment.

The Nevada Department of Education conducts official enrollment counts around Oct. 1 each year. The numbers are used for funding purposes and mandatory reporting. They also provide a snapshot of student enrollment in public schools over time. The count does not include private school enrollment, which is reported separately, or home school enrollment, which is not aggregated at the state level in Nevada.

The Nevada DOE’s 2024 report on private school enrollment has not been made public yet. But last year’s report, which reflected the 2023-24 academic year, showed 22,810 students enrolled in private schools in Nevada. That is equivalent to 4.7% of public school enrollment this year.

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Diversity in charter schools

Charter school critics have long argued that their enrollment does not reflect the broader student population, particularly when it comes to economically disadvantaged students, students with disabilities, and students classified as English language learners. The Nevada State Legislature in recent years passed legislation designed to ensure charter schools were enrolling these students and not just targeting students who need the fewest resources and would be successful at any school.

Updated enrollment data shows SPCSA schools moving in the right direction but still lagging behind in terms of overall percentages.

SPCSA schools saw gains in the percentage of students who qualify for free or reduced lunch (FRL) — a metric used to identify students to identify lower income households. This year, 63.9% of SPCSA students qualify for FRL, compared to 50.9% last year and 46.4% the year before.

Statewide 85% of public school students qualify for FRL.

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SPCSA schools saw much smaller gains when it came to increasing its percentage of English language learners (ELL) and students with disabilities, who have individualized education plans (IEP). ELL students make up 10.3% of students at SPCSA schools, up from 10%. IEP students make up 10.7% of students at SPCSA schools, up from 10.4%.

Statewide 14.4% of public school students are classified ELL and 14.1% have IEPs.



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2 News Nevada reporter and photographer witness hit-and-run crash in downtown Reno

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2 News Nevada reporter and photographer witness hit-and-run crash in downtown Reno


A reporter and a photographer from 2 News Nevada witnessed a hit-and-run crash on Tuesday night.

It happened at the intersection of West Second Street and Arlington Avenue just after 7 p.m. according to 2 News Nevada reporter Makayla Hardy.

A sedan collided with an SUV in the intersection.

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Both cars had a green light, but the sedan was taking a left and didn’t yield, crashing into the SUV according to our crew on scene.

The SUV pulled over immediately while the sedan kept driving down Arlington Avenue. The car had suffered significant damage, though, so the driver eventually pulled over further down the street before fleeing on foot towards J Resort.

Reno Police say the driver who fled was caught.

There is no information on if anyone was injured in the crash.

Reno Police, Reno Fire, and REMSA responded to the crash.

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Nevada Republicans cast state's 6 electoral votes

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Nevada Republicans cast state's 6 electoral votes


RENO, Nev. (KOLO) –

Earlier today up at UNR, 6 Electors from Nevada’s Republican Party took to the stage to cast their vote for Donald Trump and JD Vance.

This is the first time in 20 years where the silver state’s electors have gone to a Republican.

“I think Nevada should celebrate its elections process,” says Cisco Aguilar, Nevada Secretary of State. “It should celebrate a record number of Nevadans voted in this election. They made their voice heard on a national level.”

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The six electors, Brian Hardy, Robert Tyree, Kathryn Njus, Bruce Parks, Jesse Law, and Michael McDonald were selected as electors last May.

As a swing state these votes could have been crucial if the electoral race for president had been closer. As it stands at the end of the day when all electoral votes are cast, Trump will have 312 votes to Kamala Harris 226 votes.

“It is a beautiful day,” says Michael McDonald. “Very honored to be an elector and obviously I’ve been with Donald Trump since 2016. This is a great time for me.”

Before casting his votes, McDonald and the rest of the electors took an oath to uphold the state and U.S. Constitution.

As he said, he has been with the president-elect since 2016.

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In 2020 he was one of Nevada’s alleged fake electors who allegedly submitted fictitious votes to federal authorities.

Asked how this year compares to four years ago?

“I have no comment on that,” said McDonald. “Today is about President Trump and J.D Vance.”

Last week Nevada’s Attorney General filed forgery charges against McDonald and the man sitting next to him today, Jesse Law, Clark County’s Republican Chairman another alleged fake elector.

The forgery case comes after Aaron Ford’s case against the six alleged fake electors was filed in Clark County. A Clark County judge says that case was in the wrong jurisdiction.

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The forgery case was filed in Carson District Court last week and alleges the group presented itself as Nevada’s true electors. A.G. Ford says the case is “pre-emptive” as the original case was facing a statute of limitations.

The original case alleged “offering a false instrument for filing” and ‘uttering a forged instrument.” against the six alleged fake electors.

It is now before the Nevada Supreme Court where Ford is challenging the jurisdiction decision.

What does McDonald think about the new forgery charges?

“I got no comment. Today is about President Trump,” said McDonald.

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McDonald’s attorney has called the filing a “political move.”

The ceremony was held at the University of Nevada Reno for two reasons. First the school is celebrating its 150th birthday.

Second, Nevada was second this year in the country with the most youth votes and this school saw record turnout.



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