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Report: Tahoe, Reno Home Markets Improving

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(Sacramento, CA)
Monday, January 7, 2013

Annual home sales around Lake Tahoe saw a 34% rise in units sold and a 40% increase in sales volume.

"Isn't it beautiful…to see black back in the number equation now?"

Susan Lowe is with the Lake Tahoe-based real estate company Chase International, which released the numbers.
In the Reno-Sparks area, the median price of a home rose 7% to $165,000. Sales volume was up 8%. Lowe says it all comes down to supply and demand.
"The inventory is still very low, almost to a critical point, and it's driving prices up. And I also believe that consumer confidence in our marketplace is coming back and I think a lot of people realized that if they were to get these great deals…the time was to jump now, this last year."
Lowe says the upper end of the market is seeing the biggest improvements in Lake Tahoe with the sale of million-dollar homes up 60%.
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