We all experienced the slow uptick of inflation and rising interest rates in 2021, but homebuyers may have felt the squeeze most acutely, losing an average of $25,000 in buying power, at least according to economists who crunch these numbers for a living. Learn more from our friends at The Balance.
One of the key indicators of a supply shortage in any industry is the number of months it would take to exhaust current inventory. While housing inventory typically fluctuates with the seasons, it’s clear that we’re on a much longer downward trend during the COVID pandemic.
Considering a move to Lake Tahoe? Recent real estate market stats show that it pays to head south. While house and condo prices are on the rise across the board, South Lake Tahoe remains a relative bargain for anyone hunting for a home. Send us an email to learn more about our first-hand experiences.
The latest numbers are in, and while house inventory was down in November from one year ago, properties are spending less time on the market and selling 21% higher than 2020. Meanwhile, there are a few more condos out there than the same time last year, but the median price is still up 17%.
The Bureau of Labor Statistics reported Friday that consumer price inflation (CPI) rose 6.8% over a 12-month period ending in November and reached its highest level since June 1982. This shouldn’t surprise anyone who’s been out shopping for the holidays, with prices soaring and supply chain shortages creating inventory backlogs. CNN has more.
