Lafayette Real Estate Market Report: Hot, Hot, Hot!

Temperatures have barely started to warm up in Acadiana but our real estate market has been on fire. Home sales in March were higher than sales last July in Acadiana, which was our best month for 2012. In Lafayette parish, March sales were almost as high as July 2012. If this is any indication of what our summer and the rest of the year will be like, it appears that we will be setting real estate records in Lafayette and Acadiana.

Pending home sales keep climbing. I have never seen them this high and pending sales are higher now than they were last June before we set a record month for July.

The demand for homes in Acadiana have put the builders back to work. In Acadiana, 95 of the 396 homes sold were new construction. In Lafayette parish, 84 of the 262 sales were of new homes.

Meanwhile, inventory is not catching up to the high demand and it remains low.

There are still plenty of buyers looking out there if you have been thinking about selling. True, if you wait, your home will be worth a bit more however, if interest rates rise, there will also be less buyers on the market.

If you want to discuss the sale of your home, call or email me today. I'm here to help!

Originally Posted at: Lafayette Real Estate News