Tahoe home sales down
The number of home sales around Lake Tahoe in the first nine months of this year fell by 41 percent compared with year-earlier figures.
The average sales price is up by 22 percent to $1.22 million, reported the real estate company Chase International.
On the east shore of Lake Tahoe, the number of units sold declined by 34 percent from a year ago. Sales of homes priced at $1 million or above rose by 6 percent to 36 from 34 a year ago and the average price of a home on the east shore increased by 44 percent.
The regional building and population boom continues to favorably impact operations at Northern Nevada financial institutions. The thousands of new residents moving to the Truckee Meadows need to finance homes or new businesses, and all regional bankers really need to do is just put on a catcher’s mitt to snag the flow of business from people and companies moving in from California.