The new issue of Forbes magazine includes an article titled "America's Best and Worst Housing Markets. You can read it at http://www.forbes.com/2007/01/25/strongest-housing-markets-forbeslife-cx_mw_0125strongest.html.
According to Forbes, median home prices in the metro Baton Rouge area have increased 14.1% in the third quarter of 2006. New Orleans' median price increase 7.6% in the same time frame. Overall the entire gulf coast region showed an increase in 2006. According to www.housingpredicator.com, this is a trend that will continue through 2007. While this is very good news for Baton Rouge sellers, it should serve as a caution to Baton Rouge buyers. If you are considering buying a home in the BR market sooner is probably smarter than later. If the trend forecasters are correct, a 6 months waiting period could cost you any where from a 3% to 7% increase in housing prices. Time is of the essence...
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RS Mortgage Consulting - Indianapolis, IN
Shannon, I stayed in your town during Katrina, working on the Disaster team with Red Cross, I am thrilled to hear your statistics, I have a space in my heart for your area down there, as well for Slidell and New Orleans, keep us posted please. Bob
Jan 26, 2007 11:45 AM
Judy Burkett Realtors - Baton Rouge, LA
Bob-
Thank you for the kind words and thank you, thank you, thank you for the sacrafices of time,effort and talent you and all of the Red Cross teams made on my state's behalf. While Katrina was devestating, it was true reaffirmation of the caring and decency of every day Americans.
I wish I could say New Orleans was well on its way to normalcy like the Mississippi coast area but that is not the case yet. We all are confident that N.O. will return in some form....just not sure what that form will be at this moment.
Jan 27, 2007 12:04 AM
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