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Home sales take dip in April; Could the market be finally losing some steam? | Business – New Orleans, Louisiana

New Orleans, Louisiana 2021-06-10 11:04:00 –

Acadiana’s real estate market could level off after months of runaway activity.

Home sales plummeted in Lafayette Parish and the region last month, according to data from Bill Bacque of Market Scope Consulting. This is usually a busy month for homebuyers after unprecedented growth. After a steady increase in the months, pending sales also declined.

Mortgage rates have historically been low, and thanks to the large number of buyers on the market, 639 homes have been sold in the region and 442 homes in Lafayette, which is a far higher activity than the previous year.

However, many analysts wondered if the decline in other markets across the country eventually cooled activity, or in the worst-case scenario, the market was in a housing bubble and house prices plummeted. I am.

Probably not, Buck said.

“Is it possible? Yes. Is it likely? No,” Bacque wrote in his monthly report. “April can be a peak in demand for almost a year.

“…. (T) The demand-driven air that inflated our housing bubble will begin to ease and lead to market corrections. Whether it is a mild, sustainable correction or a chaotic crash. It depends on how quickly and seriously these effects occur. The 50 years in this business have become more optimistic than pessimistic. Enjoy the market, but by any chance. Put the raisins in the barn in preparation for. “



Home sales take dip in April; Could the market be finally losing some steam? | Business Source link Home sales take dip in April; Could the market be finally losing some steam? | Business

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