The number of foreclosures on the market in Lafayette parish increased 1% since July when I last pulled the numbers. In Lafayette parish, 5% of the homes on the market are labeled as REOs or bank owned right now, up from 4% in May and July. In Acadiana as a whole, 6% of active listings are REOs, which is what it was in May and July.
Since the beginning of the year, 17% of home sales have been foreclosures. When priced right, foreclosures listings represent great opportunities for home ownership and/or investments. Affordability is at an all time high.
Our real estate market in Lafayette parish and Acadiana is very healthy as a whole. There are still 741 home sales pending in Acadiana and 508 in Lafayette parish.
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Originally Posted at: Lafayette Real Estate News--