Prices for previously owned homes rose in more than 40 percent of U.S. cities in the fourth quarter of last year, including Baton Rouge, as massive federal spending helped the housing market show signs of stability.
The National Association of Realtors said Thursday that the median sales price for previously occupied homes rose in 67 out of 151 metropolitan areas in the October-December quarter versus a year ago. That’s a sharp improvement from the third quarter, when prices rose in only 20 percent of cities.
In Baton Rouge, where the housing market has never cratered as bad as it has in a number of other markets nationwide, the median home price for a previously occupied home rose $1,000 to $157,400, an increase of 0.6 percent.
The housing news reflects what I consider to be the health of our economy. With a great selection of homes to choose from, buyers will enjoy taking advantage of the tax credit as well as the excellent value here in the greater Baton Rouge Area.