November New Home Sales Hold Firm During a Typically Slow Month
On the heels of an incredible 25% increase in new homes sales numbers in October, November, 2013 boasted a minor decrease of 2.1% to 464,000 in new home sales during a month where real estate typically has little or no activity and shows the strongest sales pace in the market since July, 2008. Interestingly, the final quarter of 2013, which is typically the slowest quarter during a real estate year is the best quarter for real estate sales since the 2nd quarter of 2008.
Even though builders are still being very cautious about the investment of their equity, time, materials, labor, and land, buyers have entered the marketplace and seem to be whittling away at the supply of both previously owned and new homes for sale. In the Greater New Orleans area, the home to many new entrepreneurial tech companies, the demand for housing for new young professional techs as well as executives is so high that less than 24 hours that a house is on the market, the owner may have up to 5 – 10 bids on the home – well above the asking price. In fact, the need for housing for these home buyers relocating from other markets is so great that Realtors are calling old clients that live in the area to see if, by any chance, they want to sell their house. The answer is sometimes surprising as neighbors are watching real estate being sold all around them for higher than market prices. Sometimes, they even say yes.
In St. Tammany Parish, home sales and lot sales have been brisk at Bedico Creek Preserve. Our most popular Neighborhood – Longview – is almost completely sold out in less than 12 months. New homes are also going up all over the neighborhoods as new home builders and new home buyers and lot buyers are bringing floorplan designs and their unique ideas for custom home design to build the home of their dreams. So, if you have been wondering in which direction the real estate market is headed, especially in the Greater New Orleans area, just pick up your local paper and learn about all of the great deals on the Southshore and the Northshore for lots, land, and homes for sale. To find out more information about Bedico Creek, call 985-845-4200 or E-mail [email protected].
