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Posts Tagged ‘Home Price Index’
B.R. Business Report & FACL: Baton Rouge Home Prices Down Slightly
http://www.batonrougerealestateappraisal.com/ – Baton Rouge Business Report & First American Core Logic: Baton Rouge Home Prices Down Slightly
(In this example above, this Baton Rouge Housing Market in 70815 has experienced more than just a slight decline in median sales price and an oversupply of competing housing. Parameters are the 1900sf to 2400sf living area size range)
The Link is Here! Here’s a snippet of from the report:
“A new report says Baton Rouge home prices dropped 0.41% in August from the year before. First American Core Logic says the local Home Price Index was down from August 2008, after a 0.8% increase in July. That local decrease is much better than the 10.1% drop reported in First American’s national index in August. Louisiana’s index was down 3.9% during the month. First American predicts U.S. home prices will hit bottom in March, because of the increasing number of homes entering the foreclosure process and the expiration of a tax credit for first time homebuyers — although members of Congress are working to extend the credit into next year. By August 2010, First American projects the home price index will be up 4.6% nationally and 0.51% in Baton Rouge.”
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Baton Rouge Real Estate in October 2009 Ranks Within 20 Strongest Metro Areas In U.S.
http://www.appraisersinbatonrouge.com/ – Baton Rouge Real Estate in October 2009 Ranks Within The 20 Strongest Metro Areas In U.S.
(NOTE: This Photo, Taken in 10/2009, Shows New Construction By More “Economy Builders” Priced Below $200,000 Is Still Fairly Brisk Within The Outlying Areas Of Greater Baton Rouge Itself. This is the “New” New Construction Baton Rouge housing market, a market that is much more affordable in pricing. And, this is what is selling. Some of those builders that thought buyers would just keep paying $136/sf to $160/sf and never stop are the ones still holding inventory, paying interest and their banks are sometimes taking it on the chin. In new home construction, in general, under $200K is moving fairly well; Over $250K is Still Not Selling As Fast As It Did in 2006/2007. AND, these $200,000 new homes in the photo are being built in a “former” high end subdivision where the predominant values were $350,000 or about $135/sf. The new price per sq. ft. for the remaining 85% of lots is going to be in the $96/sf to $106/sf. OUCH!!!)
Mark Perry, with Wall Street Pit Global Market Insight, is reporting, along with Business Week, that Baton Rouge Real Estate in 2009 is within THE 20 Strongest Performing Metro Areas in the U.S.. The link to the article is here. A Snippet includes:
“BUSINESS WEEK (”The U.S. Metros Least Touched by Recession”) – America’s strongest economies have one thing in common — home prices that never got too hot or too cold (see charts above comparing the home price index in California to Arkansas, Texas and Oklahoma over the last ten years).
Home prices in metros such as San Antonio, Oklahoma City, Pittsburgh, Rochester, Little Rock, Ark., and Baton Rouge, La., remained steady through boom and bust. Although no metropolitan area entirely avoided the economic downturn, the most resilient metros were protected by a potent mix of recession-resistant jobs.
The upstate New York areas of Syracuse, Rochester, Albany, and Buffalo suffered from declining jobs in manufacturing, but got significant boosts from sizable health-care, education, and government sectors. Construction is booming in Baton Rouge, Louisiana’s capital, as firms take advantage of financing for post-Katrina hurricane recovery work and service-related companies expand to meet the needs of a growing population. Omaha and the state of Iowa have relatively strong insurance sectors.
Texas, the last state to enter recession, has been bolstered by its oil and gas industries — which have also helped Oklahoma, North Dakota, and Louisiana. Texas also has many other things going for it, including affordable home prices and relatively low wages, which attract corporations.”
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Baton Rouge Home Prices Down Slightly In April 2009 While Louisiana Home Price Were Up
http://www.batonrougerealestateappraisers.net/ – Baton Rouge Home Prices Down While Louisiana Home Price Up
The Baton Rouge Business Report AM just posted this news about Baton Rouge and Louisiana Homes Prices. The Link is at: http://www.businessreport.com/archives/daily-report/2009/jun/24/1049/
Here’s A Snippet as directly quoted,
“Baton Rouge-area home prices dropped by 0.54% in April when compared with a year ago, but Louisiana reported the third-biggest jump in average state prices. According to First American CoreLogic’s Home Price Index, the modest drop in home prices comes after a 4.14% increase in Capital Region home prices that happened in March. Louisiana reported a 3.1% increase. Only West Virginia (5.27%) and New York (3.88%) had more of a monthly improvement. Nationally, home prices were down 10.2% for April, the smallest annual decrease First American has seen this year. First American bases the HPI on public records sources such as property sales, tax assessments and mortgage filings.”
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Baton Rouge Real Estate Housing Prices Continue To Increase
http://www.batonrougerealestateappraisers.net/ - Greater Baton Rouge Housing Prices Continue To Increase
The Baton Rouge Business Report Reported Last Week About Increases In Local Housing Prices. The link is at: http://www.businessreport.com/archives/real-estate-weekly/2009/jun/02/1008/
Here’s A Snippet:
“Baton Rouge home prices were up 2.4% in March, compared to the year before, another sign of market stability in the wake of a national housing downturn. The modest increase was a little worse than the February numbers from First American CoreLogic’s Home Price Index. In February, Baton Rouge home prices were 4.14% higher than what they were in February 2008. Nationally, home prices were down 11.5% in March when compared to the year before. In Louisiana, home prices were up 1.76% in March, the third-highest appreciation rate in the nation. Only West Virginia (7.45%) and South Dakota (1.95%) were higher. First American bases the HPI on public records sources such as property sales, tax assessments and mortgage filings. First American notes that 44 states had price declines in March, compared with 30 the year before, and the number of states posting double-digit price drops went from seven in March 2008 to 14 in March 2009. First American notes that U.S. home prices, which peaked in July 2006, have fallen more than 22% and are at their lowest point in five years.”
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