Realty World - Lake Tahoe » Single-family detached home

Perfect Storm Continues for November Sales Stats

Trish Hall — Thu, 08 Dec 2011 19:38:00 +0000

Image via Wikipedia

The numbers for November continue to amaze me. With closed sales down from the previous month at 46 and a remaining inventory of 255, that makes the absorption rate 5.54 months for single family homes in the City and County areas. The really amazing factor is the continuing decline in prices. Even with low inventory, low interest rates there is still a lack of consumer confidence. I say again, if you are thinking of investing in Tahoe Real Estate, this is the time to buy.

Perfect Storm

Trish Hall — Sun, 13 Nov 2011 16:25:00 +0000

Image by Getty Images via @daylife

The listing inventory of single family homes is 291 (City and County areas). That means if escrows keep closing at 60 per month like the last 30 day period, we will be out of listings in less than five months if no new listings come on the market. An absorption rate like that takes me back to the market of 2004. The difference now is that prices are on the way down. If you were ever considering a purchase in Tahoe, it is a great time to buy.