SUMMARY    HISTORY    PEAKS & TROUGHS    FORECASTS

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The New Orleans housing market experienced price increases during the fourth quarter, continuing to move higher since the wrath of Hurricane Katrina. Historically, the New Orleans market has avoided national trends and has increasing become tied to local economic conditions. Despite this local influence, national market psychology has lead to sales declines. However, while further sales declines and stagnate prices are likely, significant price declines are unlikely as the mortgage debt servicing cost has remained low and below the local historic median.

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This ratio compares the monthly mortgage payment (principal & interest only, which does not include hazard insurance, property taxes or any needed private mortgage insurance) for a median priced home financed at the prevailing 30 year mortgage rate to the local median 4-person family income.