📉 50% of Reno–Sparks Metro Homes Lost Value Over the Last Year?
A new Zillow press release made waves this week with a headline that stopped a lot of people in their tracks: 53% of U.S. homes lost value over the past year — the highest share since 2012.
After seeing that, we naturally wanted to know: How does Reno–Sparks compare?
Using the latest Zillow Home Value Index (ZHVI), Greater Reno market data, and Washoe County appreciation metrics, we broke down what’s really happening locally — and how our market stacks up against the national “53% decline” narrative.
📍 Reno–Sparks Year-Over-Year Home Value Change (2024–2025)
(Latest available: October 2025 ZHVI & Washoe County MLS trends)
➡️ Reno Metro Prices: –1.2% YoY
That means: Estimated % of Reno–Sparks homes that declined in value:
≈ 45% – 55%
Why the range? Because:
Reno appreciation has been flat to slightly negative, depending on the neighborhood.
Higher-priced segments (South Reno, Somersett, parts of Sparks) softened most.
Entry-level and mid-tier homes held value better due to affordability pressures.
Bottom line:
Reno is very close to the national trend — but slightly better than the U.S. average.
📊 Supporting Local Stats (You’ll recognize these from recent market updates)
Mortgage Rates
6.3% (down from 9%+)
Median Reno–Sparks Price
$557,000 (▲0.9% YoY — but that’s median, not individual property values)
Inventory
1,307 homes (▼6% YoY)
Unsold Listings / Expireds
160 homes (▲18.5% YoY — a sign of price pressure)
Interpretation
Even though the median price is slightly up, many individual homes are down YoY — especially 2021–2022 peak purchases.
The middle of the market is holding, but the upper tier has softened, pulling the average down.
Reno is a market trends leader: quick to rise, quick to soften.
🏠 Reno–Sparks Breakdown by Area (Modeled from local YoY data)
| Area / Segment | YoY Value Movement | % of Homes Likely Down |
|---|---|---|
| North Valleys | Slightly down | ~40% |
| South Reno | Moderately down | ~55% |
| Somersett / NW Reno | Down | ~60% |
| Spanish Springs | Flat / slightly down | ~45% |
| Central Reno (Old SW / Midtown) | Mostly flat | 35–45% |
| Sparks (Core) | Flat | 35–45% |
“Nationally, Zillow says 53% of U.S. homes lost value over the last year — the highest since 2012.
Here in the Reno–Sparks metro, we’re closer to 45%–55%, depending on the neighborhood.
The median price is technically up 0.9%, but many individual properties — especially those purchased at 2021–2022 peak pricing — are still underwater.”