Discover what the national media headlines won't tell you:
The housing market in Louisiana is strong!
If you're thinking about building or buying a home in Louisiana, now is a great time to do it. The investment you make today can help you build long-term wealth.
You can benefit from knowing the facts about the housing market and tax incentives for homebuyers, so please take a few moments to review the educational and resource information contained in this website. This information is provided as a public service by the Louisiana Home Builders Association.
Want the latest housing news? If you would like to receive periodic updates and announcements of interest to prospective homebuyers in Louisiana, please sign up to receive our free email newsletter.
Economists forecast that Louisiana will show growth and stability, while most other states show losses during this national recession period.
According to the Louisiana Economic Outlook, the United States will experience a "relatively shallow national recession lasting about one year," and during that time Louisiana will have near level job growth in 2009 and a gain of 28,400 jobs in 2010.
(Report submitted in October 2008 by LSU Economist Loren Scott, James A. Richardson, M. Dek Terrell of the LSU E.J. Ourso College of Business)
Louisiana's Real Estate Market Posts 6% Growth
According to the report, Louisiana has avoided problems in the housing crisis because the state's banking industry did not get into the subprime loans that helped stall bank-to-bank lending. Also, housing prices have not been artificially elevated in the state, thereby creating a housing bubble that burst in states like California, Florida and Nevada.
Investing in real estate is historically one of the safest financial investments.
Even in down markets, over the long term, house prices still appreciate more than the stock market. On average, the value of a home nearly doubles every 10 years. In fact, over the past three decades, home values have increased an average of more than 6% per year.*
(* Figures obtained from the National Association of Realtors)
Interest rates are low, selections are great, and tax credits are available.
Because of the cool down in the national real estate market, interest rates have been lowered to encourage activity. Louisiana's banks and lenders have available cash to loan to homebuyers with good credit. At the same time, qualified first-time buyers can receive a tax credit of up to $8,000 for a limited time.
Now IS a good time to build or buy a new home in Louisiana!
