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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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New Orleans
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Reconstruction continues along the Gulf Coast, with Richard Moody pointing out that the remaining question is how many residents will actually come back to New Orleans, which posted a 19.1 percent decrease in employment last year. The majority of post-Katrina work so far in the Gulf Coast appears to be geared toward rebuilding infrastructure, notes Moody, instead of focusing on reconstruction of residential properties.
4th quarter 2006: $162,100
Median price 4th qtr 2005: $178,700
% change: -9.3%
Projected avg price end of 2007: $241,180
Current avg 30-year fixed rate: 5.85%
Current avg 5/1 ARM rate 5.67%
*Affordability rating: 5.9
Foreclosures in Jan. 2006:
(1 for every 12,193 households)
49
Foreclosures in Jan. 2007:
(1 for every 2,872 households)
208
Change in foreclosures: +324.49%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
Dec. '05: Median price $178,700
Jan. '06: 30-yr fixed rate at year's low 6.10%
June '06: National median home price $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr fixed rate at year's high 6.80%
Dec. '06: Median price falls 9.3% to $162,100
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007


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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 3.96%
15 yr fixed mtg 3.07%
5/1 ARM 3.20%
Rates may include points
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