What a weird winter in Tahoe! So much snow, yes, but also just so consistently gray! Normally we get a storm cycle which passes through and leaves us with a few feet of snow and sunny blue-bird pow days. Not this year! It was storm cycle upon storm cycle upon storm cycle for a good 8 weeks+ with no blue skies in between. It was relentless!!! The inventory levels account for that without question. Inventory levels across the board were quite a bit lower than in Q1 2018. It’s hard to list a home when it is buried in snow! While we actually had more overall snow in past years, there was space between the storms to recover. Not only was it hard to list a home, it was hard to show homes. Regardless, demand stays strong and buyers are patiently waiting for inventory levels to rise. Home prices continue to increase making this the best time to sell since the Recession. Along with that surprisingly is lower interest rates.

The amazing news is that it interest rates have improved making it more favorable to purchase as well. After seeing interest rates approaching 5% in November 2018, rates are now lower than they were in January of 2018! They’re back down to around 4.5% for conforming loans according to mortgage brokers I work with. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% in the second week of April!

Here are the 2019 Q1 Market Reports for North Tahoe and Truckee:

2019 Q1 North & West Shore lake Tahoe Market Report

North Tahoe & Truckee Q1 2019 Market Reports