Report: New Listings of Existing Homes on the Rise

NEW ORLEANS — According to the August 2022 Monthly Indicators report from the New Orleans Metropolitan Association of Realtors, existing home sales have continued to soften but inventory in the New Orleans metro area increased by 12.7 percent and new listings increased by 7.5 percent. 

“We’re starting to see the market transition to a more neutral market,” said David Favret, NOMAR president, in a press release. “For a while, we were operating below what would serve market demand, and in spite of rising interest rates, homebuyers are still very active. And, with more options coming on the market for buyers, we are confident that inventory will continue to move quickly for properties that are aptly priced.”

NOMAR’s latest Local Market Update covers the New Orleans metro area, including Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. John, St. James, St. Tammany, Tangipahoa and Washington parishes.

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