NS Calculated risk of 10/12/2021 02:31: 00 PM
Earlier this year from Jann Swanson of Mortgage News Daily: Fanny warns lenders about investment real estate and second homes..
I’m looking at some second domestic market data-and track those markets to see if there is any impact from the loan change.
This graph is from South Lake Tahoe from 2004 to September 2021 and shows the year-on-year (YoY) changes in inventory (blue) and median (12-month average).
Note: The median price is distorted by the mix, but this is available data.
After the housing bubble, South Lake Tahoe prices fell for several years, with median prices dropping about 50% from the bubble’s peak.
Currently, inventories are still very low, but they are definitely above the record low set six months ago, and prices have risen significantly year-on-year.
This is noteworthy, but so far there is no evidence of a slowdown in the second house with these numbers (the fire does not seem to affect these numbers either).
September South Lake Tahoe
http://feedproxy.google.com/~r/CalculatedRisk/~3/yms4Xck-WNQ/second-home-market-south-lake-tahoe-in.html September South Lake Tahoe