July Stats - Taking Twice as Long to Sell
It's taking more than twice as long to sell a home in New Orleans compared to last July. The median number of days it took to get a property under contract in July was 33. Keep in mind, that means half of the homes were on the market longer than that. That jump looks startling because homes sold
June Stats: Why Aren't Prices Dropping?
For this month's market report, I could post two charts, put my feet up, open a cold one and be done with it. (mmmmmm...beeeeeeeeer) But that's not my style, and you all deserve better. Still, this won't take long. Let's start on the demand side. The last time we had fewer closed sales than we had
May Stats: We're in a Buyer's Market?
For the first time in five years, the real estate market in New Orleans favors the buyers. The shift from an extreme seller's market to one that's favoring the buyers has happened quickly. Demand was pretty well exhausted when mortgage rates hit historic lows. From 2020 through mid-2022, lower mon
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