Just in: Expect Housing Shortage to Worsen | Nevada Association of Realtors

Buying a home is hard enough these days as wannabe homeowners have to contend with a shortage of residences in some markets—along with ever-rising prices and plenty of drag-down, no-holds-barred competition. But guess what? It’s about to get even worse.

Builders and developers applied for fewer new-home construction permits in June, according to the U.S. Department of Commerce’s monthly new residential construction report. 

So get ready for a continuing decrease in the supply of new homes later this year and into the next. (It takes about six to nine months to complete a residence once a permit is secured.)

And, yes, that’s expected to drive prices up even higher. The number of permits issued were down 15.4%, to just 114,000, in June compared with the same month a year earlier, according to the report. But before panic sets in, it’s helpful to realize that this was actually a 5.8% bump from May. Read the entire story here.

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LAKE TAHOE HOMEWOOD MOUNTAIN RESORT MAKEOVER OK'D

Lake Tahoe Homewood Mountain Resort makeover OKd:  Follow this link to view the full story at SFGate.com (San Francisco Chronicle).




Another major ski resort makeover has been approved here in the Lake Tahoe region.  Homewood will be joining Squaw Valley Resort and Northstar California (recently renamed from Northstar At Tahoe) where major base area development has been completed.

Naysayers cite west shore traffic as a future major problem and I believe I have to agree.  Two lane Highway 89 from Homewood up to Tahoe City will become even more dense with traffic on ski weekends.  Fanny Bridge at the Y will be choked.

Thank you for viewing the Lake Tahoe / Incline Village / Crystal Bay Real Estate Blog. For more info or discussion contact me directly at Randy@RandyBull.com or 775-771-7338.