Home prices keep soaring in Reno/Sparks, Lake Tahoe

The median home price in Nevada jumped to $385,000 in June. The Reno/Sparks Association of Realtors says that’s up three percent from May and up 16 percent from a year ago. Experts say a lack of inventory is driving up price and frustrating buyers. In Lake Tahoe, the average price for a single-family home has surpassed $1 million–that’s up 18 percent from last year.