The New Orleans market doesn’t make sense. I see houses listed every day for 15% higher than they were purchased for 3-4 years ago when the notes were probably half due to interest rates and insurance changes. It’s like the scum agents are just throwing things out there hoping people will panic and buy.

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Posted by notiger1997

Metairie

Member since May 2009

58246 posts

Posted on 4/10/24 at 9:41 am to jwalk38

quote:
It’s like the scum agents are just throwing things out there

Meh. It’s hard to blame the agents. They are pricing with input from sellers based on what they think the market will support.
Nola had always been a strange market to predict as there is such limited inventory in good areas

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Posted by HubbaBubba

F_uck Joe Biden, TX

Member since Oct 2010

45848 posts

Posted on 4/28/24 at 9:06 am to jwalk38

quote:
The New Orleans market doesn’t make sense. I see houses listed every day for 15% higher than they were purchased for 3-4 years ago when the notes were probably half due to interest rates and insurance changes. It’s like the scum agents are just throwing things out there hoping people will panic and buy.

But let's say that is, in fact, a 15% rise over 4 years. That makes the CAGR only 3.56% per year, which is not very much considering that home prices, in general, were rising at a much higher rate than that over the years of 2000-2022.

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Posted by Dixie2023

Member since Mar 2023

1527 posts

Posted on 5/10/24 at 1:07 pm to jwalk38

15% doesn’t seem like much in the grand scheme of real estate right now. At 50% like other places, yes, maybe so.

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