New Orleans Home Sales Up, Prices Stagnant

New Orleans Real EstateSpring marks the beginning of a new season – not just for weather, but for housing. It’s considered by real estate experts to be the start of the home buying busy season.

Local realtor Claudette Reuther said low interest rates may be helping with an uptick in sales. “The past few months have really picked up, and especially the past week,” Reuther said. However, when it comes to prices, things are a little different.

“Home prices in Orleans are stable, to slightly declining in some areas and in St. Bernard, they’re going up,” said Wade Ragas, an area real estate consultant. “In the rest of the market area, prices are slowly declining, one to three percent a year-type declines.” Ragas said, in other words, don’t expect home prices to suddenly climb over the course of 2012.

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