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ON THE REAL ESTATE FRONT
What’s Really Happening in Our Local Market?
If you've been reading national headlines about the housing market, it’s easy to feel a bit confused. Between discussions on mortgage rates and changing inventory, many local neighbors ask the same question: "What does this mean for our home values here in Louisiana?"
Here is the straightforward truth about what we’re seeing on the ground across our local communities:
1. We Are In a "Balanced" Market
For the past few years, the market felt like a rapid-fire sprint. Today, things have shifted into a much healthier, more predictable pace.
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For Buyers: You finally have time to breathe. With a steadier selection of homes on the market, you can evaluate options, tour properties thoughtfully, and negotiate reasonable terms without the pressure of bidding wars.
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For Sellers: Demand remains active, but strategy and a market savvy realtor are key. Homes that are priced accurately and well-presented still attract qualified buyers. It’s no longer about putting a sign in the yard and crossing your fingers—it's about smart marketing and positioning.
2. Local Insights Beat National Headlines
Real estate is ALWAYS local and much more reflective of qualifiers such as neighborhood demand, school zones, and other value-based, local market factors.
3. Preparation Makes the Difference
Whether you are planning to sell before the end of the year or starting your search for a new home, taking the time to understand your options --and perhaps equity-- will strengthen your position. Know that I am here to walk you through every step of the process of Buying, Selling or both.
CURRENT MORTGAGE RATES AS OF AUGUST 3 [Wall Street Journal Reports]:
- 30-year Fixed Conventional: 6.78 % [last month 6.25-6.50%]
- 15-year Fixed: 6.11%
- 30-year Fixed F.H.A. and V.A.: 6.34-6.36% with no discount points [last month 5.99%]
MARKET HIGHLIGHTS
Below, please find national real estate housing data and infographics from the National Association of Realtors. Keep reading to view the summary for the Louisiana market and in particular, St. Tammany and Tangipahoa Parishes.
We think you'll be most interested in what is happening here, but it helps to be aware of national market trends.
Please keep in mind that data lags one month behind.
National Snapshot for the Month of June:
- Pending Sales - decreased -5.4% month-over-month [while in the regional South they decreased -4.1%]
- Existing Home Sales - decreased by -2.4% - month over month
- Home Prices - increased +1.8% - year over year
Challenges:
- Fluctuating Mortgage Rates
On the national level, the month of June continued to be a Buyer's Market with 4.6 months of Inventory.
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