New Orleans homeowners should be smiling

David Blake
September 18, 2018 - 12:20 pm

Will the soaring job market and employment boom lead to rising property values in the New Orleans area?

The latest numbers are looking good, according to real estate analyst Wade Ragas. He was a guest on the Newell Normand show on WWL. 

''An annual growth rate in housing prices for the New Orleans Metro area of 5.6 percent, that's a strong increase in housing prices,'' said Ragas.

Some areas are doing better than others, but overall he says homeowners should be pleased.

''Orleans Parish hit a price hike of 8.6 percent and Tangipahoa Parish lead the pack, now gaining over 12 percent on an annual basis,'' Ragas said.

Home prices in St. Tammany increased 4.5 percent, while Jefferson held steady with a slower rate of growth, but demand remains high for housing.

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