With 2021 in the rearview mirror, we are spotting trends in the New Orleans real estate market that began appearing over the last year.
Following a hiatus in 2020, seasonality in home sales returned last fall, as sales began to slow after school started. In Q4 of 2021, there were fewer bidding wars, home price appreciation slowed and historically low interest rates edged slightly higher – still in record low territory.
These conditions are creating a much less volatile or “frenzied” market to begin 2022. That means we should expect an increase in activity across the local housing market following Mardi Gras.
– Marty Brantley, Engel & Völkers