South Lake Tahoe in February

To Estimated risk per 12.03.2023 10:05:00

In connection with the pandemic, there has been a surge in the purchase of second homes.

I am reviewing data for some existing home markets and monitoring those markets to see if they are impacted by changes in lending, higher mortgage rates, or an easing of the pandemic.

This graph is for South Lake Tahoe from 2004 to February 2023 and shows inventory (blue) and year-over-year average price change (12-month average).

Note. The median price is a 12-month average and is skewed by the combination of components, but this is the available data.

South Lake Tahoe Click on the graph to enlarge the image.

After the housing bubble, prices in South Lake Tahoe declined for several years, with the average price dropping by about 50% from the peak of the bubble.

At present, inventories are still very low and only slightly above the record low set in February 2022.

Prices fell by 1.5% y/y, even with inventories at historically low levels.

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