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ON THE REAL ESTATE FRONT
What These Market Moments Could Mean for You
As we move further into spring, the real estate market is offering a mix of caution and opportunity.
Recent data shows that on the national level, existing-home sales dipped 3.6% in March, with month-over-month declines across all regions. While activity has slowed compared to last year, there are important nuances worth noting especially here in the South, where year-over-year sales have actually increased, signaling continued regional resilience.
According to the National Association of Realtors’ Chief Economist, Dr. Lawrence Yun, any buyer hesitation is being influenced by lower consumer confidence and softer job growth. In simple terms, some buyers are taking a “wait and see” approach.
But here’s the other side of the story—and it’s a significant one: inventory remains tight.
That ongoing shortage of homes is continuing to push prices upward, with the median home price reaching a new record high for the month of March.
For homeowners, this has translated into meaningful gains, with the typical homeowner building over $128,000 in housing wealth over the past six years.
What does this mean for you?
If you’re a seller, limited inventory still puts you in a strong position, especially if your home is well-prepared for the market. In the South, homes have been selling faster in the last month.
If you’re a buyer, while competition may feel less intense than in past years, pricing trends remind us that waiting doesn’t always mean paying less.
Real estate is always local, and understanding how these national trends translate to our market is key. Whether you’re considering a move, investing, or simply curious about your home’s current value, I’m here to help you make sense of the numbers and find the right opportunity.
So let’s make your next "move" a smart one.
CURRENT MORTGAGE RATES AS OF MAY 1st:
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30-year Fixed Conventional - 6.25-6.50 % with no discount points [last month 6.125-6.4%, prior month month 5.97%]
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30-year Fixed F.H.A. - 5.625 - 5.875% with no discount points [last month 5.75%, prior month 5.54%]
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 on the national level, data lags one month behind.
National Snapshot for the Month of March:
- Pending Sales - increased +1.5% month-over-month [while in the regional South they increased +3.9%]
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Existing Home Sales - increased by +1.5% - month over month
- Home Prices - increased +1.4% - year over year
Ongoing Challenges:
- Sellers Frozen Into Outgrown Homes Due to Low Interest Rate Lock-In
- Economic Uncertainty
The month of March continued to be a Buyer's Market with 4.1 months of Inventory.
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