1. Current Economic Review
April 4, 2012
Brian Bonnenfant
Project Manager
Center for Regional Studies
University of Nevada, Reno
784-1771
bonnen@unr.edu

2. 230,000
**Peak = 228,100 Emp
Monthly Employment - Reno/Sparks MSA
225,000
**Start of Great Recession
Feb-12 Unemployment Rate: 12.2%
Jan-12 Unemployment Rate: 13.0%
220,000
Feb-11 Unemployment Rate: 13.5%
(Not Seasonally-Adjusted)
215,000
210,000
**End of Great Recession
205,000
200,000 Jan-Dec 2010: Jan-Dec 2011:
Jan-Dec 2006: Jan-Dec 2007: Jan-Dec 2008: Jan-Dec 2009: +5,900 +7,500
+13,300 +7,100 -7,000 -4,700 Employees Employees
195,000
Employees Employees Employees Employees Feb10-Feb11: Feb11-Feb12:
-100 -400
190,000
February 2012 Total - 186,200
185,000
(Year 2000 Level)
180,000
Nov-08
Nov-11
Nov-06
Oct-07
Nov-07
Nov-09
Oct-10
Nov-10
Oct-11
Oct-06
Oct-08
Oct-09
Aug-06
Aug-07
Aug-08
Aug-09
Aug-11
Feb-06
Jun-06
Dec-06
Jan-07
Feb-07
Dec-07
Feb-08
Jun-08
Dec-08
Jan-09
Feb-09
Jun-09
Dec-09
Jan-10
Feb-10
Jun-10
Aug-10
Dec-10
Jun-11
Dec-11
Feb-12
Jan-06
Jun-07
Jan-08
Jan-11
Feb-11
Jan-12
Jul-06
Jul-07
Jul-08
Jul-09
Jul-10
Jul-11
May-09
May-11
May-06
Sep-06
Apr-07
May-07
Sep-07
Apr-08
May-08
Sep-08
Sep-09
May-10
Apr-11
Sep-11
Apr-06
Apr-09
Apr-10
Sep-10
Mar-07
Mar-08
Mar-11
Mar-06
Mar-09
Mar-10

3. -25,000
-20,000
-15,000
-10,000
-5,000
5,000
0
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Month Over Month Employment Change - Reno/Sparks MSA
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12

4. Employment Decreases by Sector
Between February 2011 & February 2012 - Reno MSA
Local Government -1,000 -6.3%
Construction -600 -7.4%
Retail -500 -2.4%
State Government -300 -2.9%
Manufacturing -300 -2.7%
Financial Activites -200 -2.3%
Wholesale -200 -2.3%
Education and Health Services -100 -0.5%
Information -100 -4.5%
Federal Government -100 -2.9%
TOTAL -3,400

5. Employment Increases by Sector
Between February 2011 & February 2012 - Reno MSA
Leisure & Hospitality 2,200 6.6%
Professional & Business Services 600 2.6%
Transportation, Warehousing & Utilities 100 0.8%
Other Services 100 1.7%
TOTAL 3,000

6. 35,000 Manufacturing
Construction
Transp. & Warehousing
30,000 Retail
Finance & Insur.
Prof. & Tech. Services
25,000 Educ. Services
Health Care
Casino Hotels
Bars & Restaurants
20,000
Government
15,000 Employment
by Industry
10,000
Carson City & Douglas,
Lyon, Storey, &
Washoe Counties
(Source: Department of Employment, Training & Rehabilitation QCEW data - 2011 represents 3Q total)
5,000
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

7. 20.0%
NEVADA
15.0%
CLARK
10.0%
WASHOE
5.0%
0.0%
-5.0%
-10.0%
Percentage Change in Quarterly Taxable Sales
(Year Over Year)
-15.0%
-20.0%
-25.0%
1Q - 2000
1Q - 2001
1Q - 2003
1Q - 2004
1Q - 2006
1Q - 2007
1Q - 2008
1Q - 2009
1Q - 2010
1Q - 2011
1Q - 1998
1Q - 1999
1Q - 2002
1Q - 2005

8. -25.0%
-15.0%
-5.0%
5.0%
15.0%
25.0%
1Q - 1998
1Q - 1999
NEVADA
WASHOE
1Q - 2000
1Q - 2001
CLARK
BALANCE
1Q - 2002
1Q - 2003
1Q - 2004
(Year Over Year)
1Q - 2005
1Q - 2006
Percentage Change in Quarterly Taxable Sales
1Q - 2007
1Q - 2008
1Q - 2009
1Q - 2010
1Q - 2011

9. 65.0%
60.0%
Taxable Sales - Balance of Counties
55.0% Month Over Month % Ch. (excl. Clark & Washoe)
50.0%
45.0% % of State's Sales
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
-5.0%
-10.0%
-15.0%
-20.0%
Nov-10
Nov-11
Oct-10
Oct-11
Jan-10
Feb-10
Aug-10
Dec-10
Feb-11
Jun-11
Dec-11
Jan-12
Jun-10
Jan-11
Jul-11
Aug-11
Jul-10
May-10
Apr-10
Sep-10
Apr-11
May-11
Sep-11
Mar-10
Mar-11

10. 440,000
Washoe County Population Estimates (2000-2010) 421,407
420,000
421,593
417,379
400,000
380,000
360,000
341,935
340,000
341,415
Washoe County (State Demographer)
320,000
Washoe County (Census Bureau)
300,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

11. 5.0%
Percent Change in Population & School Enrollment - Washoe County
4.0%
3.0%
2.0%
WCSD Enrollment
1.0% State Demographer Pop
Census Pop
0.0%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-1.0%
-2.0%

12. 25,000
Washoe County In & Out-Migration - IRS Tax Return Exemptions
20,000
15,000
In-Migration
Out-Migration 10,000
Net Migration
5,000
0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
-5,000

15. 0
200
400
600
800
1,000
1,200
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
New Monthly Home Foreclosures & Notice of Defaults - Washoe County
Nov-11
Dec-11
Foreclosures
Jan-12
Notice of Default
Feb-12

16. $270,000
Median Sales Price of Short-Sales, Bank-Owned Resales, & Non-
$260,000
Distressed Sales
$250,000
Washoe County (Single-Family Homes)
$240,000
$230,000
$220,000
$210,000
$200,000
$190,000
$180,000
$170,000
$160,000
$150,000
$140,000
$130,000
$120,000
$110,000 Median Sale Price: Short Sale, MLS
Median Sale Price: Bank Owned, MLS
$100,000
Median Sale Price: Non-Distressed, MLS
$90,000
Oct-09
Dec-11
Oct-10
Dec-10
Oct-11
Dec-09
Feb-09
Mar-09
Jul-09
Mar-10
Apr-10
Aug-10
Sep-10
Feb-11
Jul-11
Feb-12
Jan-09
Apr-09
Jun-09
Aug-09
Sep-09
Jan-10
Feb-10
Jun-10
Jul-10
Jan-11
Mar-11
Apr-11
Aug-11
Sep-11
Jan-12
Jun-11
Nov-10
May-11
Nov-09
Nov-11
May-09
May-10
February 2012
Short Sales: 29% of All Sales 23% are Cash Sales
Bank Owned: 42% of All Sales 33% are Cash Sales
Non-Distressed: 29% of All Sales 21% are Cash Sales
All Single-Family Homes: ($145,000) 27% are Cash Sales

17. $400,000
Annual Change Quarterly Change
4Q10-4Q11: -11.5% 1Q11: -5.9%
$350,000 2Q11: -5.6%
$350,000
3Q11: -0.3%
1990-2001 = 0.97% average appreciation rate per
quarter (blue trendline) 4Q11: -0.1%
$300,000
$245,950
Peak (4Q05): $155,031 "Bubble"
$250,000
$200,000
$150,390
$194,969
$150,000
G re a t e r R e no -S pa rk s M e dia n P ric e
1% Q u a rt e rly A p pre c ia t io n R a t e
$100,000
1q01
2q01
1q02
2q02
3q02
4q02
2q03
3q03
4q03
3q04
4q04
1q05
3q05
4q05
1q06
2q06
1q07
2q07
3q07
4q07
1q08
2q08
3q08
4q08
3q09
4q09
1q10
2q10
4q10
1q11
2q11
3q11
4q11
3q01
4q01
1q03
1q04
2q04
2q05
3q06
4q06
1q09
2q09
3q10

18. $50
$100
$150
$200
$250
$300
$-
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul- 08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul- 09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
North Urban
North Valleys
Old Southeast
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Median Listing Price per Square Foot
Sparks
Oct-10
Nov-10
Dec-10
New Southwest
Jan-11
Spanish Springs
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Old Southwest
New Southeast
New Northwest
Jan-12
Feb-12
Mar-12

19. 140 $400,000
131
128 New Single-Family Home Sales & Median Values - Washoe County
117 Peak: (Nov-05) 315 Sales $350,000
120 Number o f New Ho me S ales
114
111 112
M edian New Ho me S ales P ric e Peak: (Feb-06) $423,311
102 $300,000
100
Median New Home Sales Price
91
Number of New Home Sales
$250,000
81
80 77
73
69
67 66 $200,000
64 64 65
61 61
58
60 54
48 49 49 $150,000
47 47
44 44 45
42 43
40 40 40 39
38
40 36
32 33 32
29 $100,000
27 28 27
25 25
23 22 21
19
20
$50,000
2008: 2009: 2010: 2011:
1,063 sales (89/month) 739 sales (62/month) 527 sales (44/month) 427 sales (36/month)
0 $0