I’m sharing the latest stats from our local real estate market and helping you interpret them.
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Here in New Orleans, there’s no direct ban on showing homes, though we’re taking plenty of safety precautions when we do show. What’s actually been happening in our real estate market in April? Over the last 30 days, we’ve seen 283 houses come on the market, and, as of the recording of this video, 200 houses have sold. 83 more homes came onto the market than left the market; if this general trend continues, home prices will eventually go down. Of course, plenty depends on how long this pandemic will last—let’s hope not much longer. People are still looking at vacant houses in person, and some are using 3D virtual tours. To hear my take on the market’s direction and the effectiveness of virtual tours, watch the short video above.