DQNews Archived Article

Out-of-State Nevada Home Purchases

by Real Estate Analyst John Karevoll
September, 1995

San Diego,CA—While more than half of Nevada's out-of-state homebuyers live in California, the second most common state of residence is Hawaii, a real estate information service reports.

A total of 1,805 California residents bought a house or condo in Nevada during the 12-month period ending in July. That accounts for 57.6 percent of the 3,135 homes bought by out-of-state residents during the period, according to DataQuick Information Systems.

Hawaiian residents bought 246 Nevada homes, followed by buyers in Illinois, New York and Michigan (see chart).

California residents paid an average $142,497 for their homes while Utah residents paid an average $99,290, the company reported.

DataQuick monitors real estate purchasing, financing and foreclosure activity nationwide. The company, which has an office in Las Vegas, provides information to consumers, lending institutions, title companies and industry analysts. Absentee ownership is assumed when bills for property taxes are sent out-of-state.

By city, the highest number of out-of-state homebuyers live in Los Angeles, followed by Honolulu, San Diego, San Jose, San Francisco and Chicago.

Absentee Nevada Homebuyers

State	# Sold	Avg Price
California	1,805	$142,497
Hawaii	246	$117,239
Illinois	140	$129,673
New York	139	$123,412
Michigan	81	$124,847
Utah	71	$99,290
Washington	49	$131,209
Ohio	47	$135,227
Arizona	46	$139,102
Florida	44	$131,258

Source: DataQuick Information Systems

For more information call John Karevoll (909)867-9534

Copyright © 1995 DataQuick Information Systems.
All rights reserved.