END OF YEAR IN TAHOE
As 2021 comes to a close, the main headline is the inarguable need for housing. With rapid population growth in our region, aggressive buyers, and incredible growth in the market, this is another unprecedented year for real estate in Tahoe and Truckee.
In 2020, three Tahoe area towns saw population growth of approximately 50%:
Truckee +48%
Tahoe City +52%
South Lake Tahoe +49%
After hitting a new peak, the Californian median home price nominally retreated in October of 2021.
California median home price: $798,440
-1.3% month over month
+12.3% year to year
What this means for 2021: We will continue to see home prices hold in value or slightly increase, inventory will remain tight, interest rates will continue to climb into the mid 3% and buyers will continue to jump on properties priced accordingly as they hit the market.
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