GMA

Jan 13, 2014 9:05 AM by Kristen Holloway

Could 2014 be Another Big Year for Housing?

Could 2014 be another big year for housing? Last year was record-breaking for Lafayette Real Estate.

Local real estate leaders expect a similar trend this year. Here's a quick look at real estate sales in 2013.

Van Eaton & Romero reported home sales were up 21% from 2012. Also in the report, a little less than 50% of home sales and 56% percent of the parish's overall dollar volume were from here in the Youngsville-Broussard area.

There were 987 new construction sales in Lafayette Parish in 2013. Total home sales in the parish were just under $674 million, a 28% increase over 2012.

However, there are a few challenges that may affect some potential home buyers. Flood insurance rates are at the top of all challengs, along with increasing listings to what's relative to demand. Also it may be more difficult to get more mortgage financing this year.

 

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