• Home
  • Search
    • Search All Listings
    • Search by Neighborhood
    • Featured Listings
  • Market Reports
  • Buyers
  • Sellers
  • About
    • Mark Salmon
    • Testimonials
  • Contact
  • Login / Register
  • Blog
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
(530) 318-7637 | Login / Register
  • Home
  • Search
    • Search All Listings
    • Search by Neighborhoods
    • Market Reports
    • Featured Listings
  • About
    • Mark Salmon
    • Testimonials
    • Blog
  • Contact
Menu
Home > 2019 Real Estate Forecast

2019 Real Estate Forecast

January 25, 2019 by Mark Salmon Leave a Comment

The folks at Realtor.com put together their 2019 Real Estate Forecast and it is an interesting change of pace for sure. Some key things to keep an eye out for are all detailed below. If you are looking at listing or buying homes for sale in South Lake Tahoe this year, the most important thing you can do is align yourself with a South Lake Tahoe realtor who has proven success in our market. Second home resort markets operate a bit differently compared to “normal” residential markets. Having someone who understands the TRPA, the vacation rental ordinance, the taxes in both states and the various neighborhoods is so important. So how is real estate looking this year? Let’s see what the experts had to say below.
1. We’ll have more South Lake Tahoe homes for sale, especially luxury ones. The trend is proving to be accurate with our month supply slowly inching towards 4. We are currently at a 3.9 with little increases happening each month for the past few months. To understand a month supply, anything less than 4 is a seller’s market while anything 6 or over is considered balanced. This indicates who has control of the market, so while technically we are in a seller’s market, the increasing amount of homes for sale in South Lake Tahoe is on the way to changing that. This is great news for buyers, especially if they have been feeling the crunch for the past couple years. The interesting thing about more luxury South Lake Tahoe homes for sale coming onto the market is that if the area gets flooded with high end homes for sale, sellers may be more willing to negotiate meaning a buyer could possibly buy a luxury property for a good price. Before you get too excited and think about the lakeview mansion you will be spending summer 2019 in, the inventory growth rate isn’t expected to exceed 7%. That number is also a national level, so what will actually happen in the South Lake Tahoe real estate market remains to be seen. We also have the vacation rental law in limbo right now, which will have a massive impact on the market if it gets passed.
2. Affording a home will still be costly as it has been. While home buyers looking for homes for sale in South Lake Tahoe may have more options, the mortgage rates are expected to go up. They are currently around 5% and are expected to reach 5.5% by the end of this year. In a nutshell, this means that the typical property will have a monthly mortgage payment that is 8% higher. With incomes only growing about 3%, this could be difficult for first time home buyers who generally have smaller budgets.
3. Which brings us to…..Millennials! They are still epected to dominate home buying. They account for 45% of mortgages. While they were new to the buying scene just a few years back, some are moving on to their second home from their starter home. Whether they are just starting their career or they are starting a family, this group is still likely to be conscious about pricing compared to any other group due to student loan debt. With the South Lake Tahoe real estate market being a second home resort market, I doubt that millennials will be leading the pack in this area, however, I could be wrong due to the tech jobs in Reno & Bay area allowing for so much remote work.
4. The new tax law is still a wild card. There was talk that the new law might discourage people from buying homes for sale in South Lake Tahoe, but no one really knew how it might affect the real-estate market. This year is no different because most taxpayers won’t be filing taxes under the new law until April 2019.
For more information on buying real estate in South Lake Tahoe in 2019, feel free to give me a call. As a long time, local South Lake Tahoe realtor, I am well versed in the nuances that come with this area. I would be happy to guide you and offer information that can help you achieve your real estate goals.

Filed Under: Real Estate News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Lake Tahoe REALTOR®

Mark Salmon

(530) 318-7637 Cell
Contact
New Listing Alerts What's My Home Worth Market Reports
"Mark is professional, personable, and highly knowledgeable in his field. He helped me and my partner buy our first home together, supporting us every step... continued"
- “Mark is professional, personable, and highly knowledgeable”
All Testimonials
Follow Us
1861 Pima St will be open tomorrow, December 9th f 1861 Pima St will be open tomorrow, December 9th from 10a-1p by Ryan Smith! In a master work of collaboration between a seasoned local contractor and creative design team, this mountain-contemporary home was recently perfected and just in time for ski season. Directly abutting a Forestry owned parcel, this spacious lot is just a half block from the National Forest, delivering an abundance of privacy and access to endless recreation. The elegant minimalist design incorporates custom, natural elements of Alder cabinetry and oak flooring with bright open spaces and extensive glass. A culinary refuge, the fully equipped kitchen tenders a generous central island, oversized gas range, wine refer, walk-in pantry and custom quartz counters. Open-concept living flows onto an expansive upper deck to allow for an array of gathering and entertaining options. 5 bedrooms and 4 full baths include 2 suites, one on each floor, with the upper primary providing a luxurious bath with free-standing tub, stall shower, his/her vanities and walk-in closet. The lower-level affords an additional common area for gaming or theater options that gives access to a large redwood deck and user-friendly backyard. Offered at $1,498,000. 

Compass® DRE# CA 01485376 | NV 0191477 #luxury #laketahoeluxury #luxuryrealestate #homeinspo #homedesign #laketahoe #realestate #realtor #laketahoerealestate #compass
Highlighting some of the most impactful facts abou Highlighting some of the most impactful facts about Compass 👏

Compass® DRE# CA 01485376 | NV 0191477
1251 Margaret Ave has officially closed! Sold for 1251 Margaret Ave has officially closed! Sold for $875,000-this latest creation from highly respected local builder, McGill Construction, had an accepted offer in less than two weeks. A big congrats to my sellers! 

Compass® DRE# CA 01485376 | NV 0191477
Thanks for sharing @realoq.inc 🏡 Realoq home of Thanks for sharing @realoq.inc 🏡 Realoq home of the day: 🏠
1639 Sherman Way, South Lake Tahoe CA 96150 
17 Bed | 18 Bath | 16,500 sqft | 15.34 acres
Listing Agent: @tahoesalmon #homeoftheday #tahoerealestate #realestate #laketahoe #luxury #luxuryhome
My latest Real Estate Show segment is live! Comp My latest Real Estate Show segment is live! 

Compass® DRE# CA 01485376 | NV 0191477

Have Questions?

Contact Me

  • This field is for validation purposes and should be left unchanged.

Footer

company logo

2028 Lake Tahoe Blvd.
So Lake Tahoe, CA 96150

Mark Salmon

Lake Tahoe REALTOR®
(530) 318-7637 Cell
DRE# 01485376
mark.salmon@compass.com

Stay Connected

sitemap   •   admin   •   ©2023 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com
Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.