At the moment there are 137 single family homes available on the market in South Lake Tahoe. Over the past several seasons we have seen an increase in sales prices and a reduction of days on the market during January, February and March. The wild card for this season is the newly enacted Vacation Rental Ordinance that essentially puts a moratorium on vacation rentals within the city limits. The enforcement is in full swing, with 7 one thousand dollar fines issued in the first day alone. Will this ordinance slow the growth in our market? Or will prices remain steady with homes sitting on the market for just a little longer while the right buyer comes along? Or, I think the most likely scenario, will this year look a lot like last?