More evidence of adjustment in the housing market to changes in demand and supply. The Pandemic has increased demand for housing, taking the available supply of houses to buy (blue line) to historic lows. Price increases (red line) generally follow. The seasonal spikes are due to increases in seasonal demand for vacation houses (higher in summer). South Lake Tahoe has a large percentage of second (vacation) homes. CalculatedRisk is a good blog to follow if you are interested in real estate.
(Luke Froeb) considers the following as important: 11. Supply and demand: Trade bubbles market making
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