East Shore Market Recap
A Glance at the Lake Tahoe, Nevada Real Estate Market
4th Quarter 2024
42 homes sold
From $350,000 to $16,025,000
Average DOM was 166 days
vs.
4th Quarter 2023
41 total homes sold
Sold prices ranged from $330,000 to $5,250,000
($5,250,000 was my personal sale)
Average DOM was 136 days
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Mortgage rates dropped for the second time in 2024.
The average rate for a 30-year loan declined to 6.63% from 6.69% the week prior, according to Freddie Mac on Thursday. Mortgage rates dropped for the second time in 2024 and are expected to retreat further as inflation moderates.
Today’s Mortgage Rates
Rates on 30-year new purchase mortgages added a single basis point Friday, inching up to a 6.95% average. The previous week, rates had surged to 7.02%, triggered by the Federal Reserve's December forecast of scaled-back interest rate cuts in 2025. Though slightly lower now, the flagship average is still near its highest level since July 2.
Back in September, rates had sunk to a two-year low, falling as far as 5.89%. But they've soared by more than a percentage point over the past three months.
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