As reported in the Business Report today, the number of Louisiana households facing foreclosure dropped 24% in January, compared with the month before. According to RealtyTrac, a Web site that follows foreclosure activity, 1,202 Louisiana homes were in some form of foreclosure last month, ranging from a default notice to bank repossession. That figure translates to an average of one foreclosure per 1,567 Louisiana households, well below the national average of one foreclosure per 409 U.S. households. Louisiana ranked 37th nationally for foreclosures.
This continues the trend we have seen since the housing market collapsed across the nation a couple of years ago. Although we are seeing a few more foreclosures in the Baton Rouge Real Estate Market, they tend to be on the high end homes or the low end. The middle prices seem to be doing quite well, and that is probably still fueled by the tax credit.
There are plenty of great homes for sale in the greater Baton Rouge area and with the Tax Credit, it's a great time for people to make that move!