South Lake Tahoe, CA often has different real estate trends…
(Lake Tahoe Real Estate Blog / July 24, 2010 / Richard Bolen)
We found this Associated Press report of interest. It indicates the U.S. housing market is likely to take more time to recover. As we frequently discuss and examine, national real estate trends are often different than those of South Lake Tahoe.
Lets look at some key points in the AP article, then we’ll compare that to South Lake Tahoe and see the differences, if any.
Sales of previously occupied homes fell in June by 5.1% (though the article does not specifically state it, we assume this 5.1% decline is compared to home sales in June of last year.).
- Since the tax credits expired, the number of people buying homes has fallen sharply, despite lower prices and the lowest mortgage rates in decades.
- Housing industry health has been worsened by high unemployment, tight lending standards and rising foreclosures.
- The average rate for 30-year fixed loans this week was 4.56 percent, down from 4.57 last week.
- This is the lowest since Freddie Mac began tracking rates in 1971.
- As sales have slowed, the supply of unsold U.S. homes is nearly nine-months, compared to what is considered a healthy supply level of about six months.
So What About South Lake Tahoe, CA ?
Continue reading “Existing U.S. Home Sales Down… but What About South Lake Tahoe?” on our main blog.
Why we publish this blog:
We support our families by helping folks buy and sell real estate. The goal here is twofold: to show you convincingly why you should consider asking us for help, and that you can trust the help you will find.
Email us directly here. Call us: 800-923-9022.
Search South Lake Tahoe, CA listings here. Search Stateline, NV listings here. Automatic Listing notification here.
Tags: Home Sales, Lake Tahoe Real Estate Blog, listings, South Lake Tahoe Real Estate
