Numbers from Tahoe-based realtor Chase International show a 22-percent increase in home sales throughout the Lake Tahoe area over the year before. In Reno, sales are up 41-percent and by 52 percent in Sparks. Chase vice president Sue Lowe says homes are being snatched up at an astonishing rate, particularly entry level homes.
Lowe: “We’re still trending downward on median and average price so you’re still getting good deals and it hasn’t quite hit the bottom as far as the pricing. But people coming back into the marketplace to buy has definitely turned around and (is) heading back up again.”
Lowe says a combination of low interest rates and federal incentives are responsible for the turnaround. She expects the trend to continue, but warns that deals will be harder to find in the coming year because more investors are reentering the market.