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Story Archives: Louisiana home sales on the rise


Louisiana home sales on the rise
by Bill Roark - posted Thursday, May 17th, 2012 @ 12:00 pmE-mail Story E-mail Story | Print Story Print Story 
The Louisiana Realtors Association reports that home sales in Louisiana increased by 17 percent for the January-March 2012, over the same period last year. Every MSA (Metropolitan Statistical Area) in the state showed a significant increase in sales. In the Monroe MSA, home sales increased by 11.1 percent over the same period in 2011. The average home price in our area was $137,367 down 7 percent from last year.

The driving force behind this upswing in sales in every market appears to be the continued drop in interest rates. This week set an all time record low for interest rates on home mortgages. A 30 year fixed rate mortgage fell to 3.84 percent.

One year ago the rate was 4.71 percent. The rate on a 15 year fixed rate is 3.07 percent down from 3.89 percent at the same time last year. A 5 year Adjustable Rate Mortgage averages 2.85 percent down from 3.47 percent last year.
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Bill Roark is a Commercial Associate Broker at Keller Williams Realty and may be contacted at bill_roark1@yahoo.com.
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