Monroe's Stable Housing Market UP Dramatically!

News about northeast LA keeps getting better and better! Tucked away from the hustle and bustle of any big city, the Monroe, LA, area is showing people from other parts of the US that living in a small town is still something folks want in America.

Housing in Monroe, West Monroe and other parts of northeast LA continued to be the strongest market in the state and among the strongest in the US during the third quarter of 2009. In fact, Q3 2009 sales in the Monroe area market were up 21.6% over the second quarter and up a whopping 53.9% over the Q3 2008.

"What we continue to see is that the LA real estate market remains very stable despite challenging economic times," said Michael Indest, president of LA Realtors. "The (first-time homebuyer) tax credit program has played a role in boosting the number of sales, especially in the fall as buyers were rushing to beat the original November deadline," Indest said. "(The extension) will be very important in helping maintain sales momentum through next spring."

Earlier this year Local Market Monitor listed the Monroe area among the top 10 smaller cities in the US. In addition, the foreclosure rate was only 1.88% in September, significantly lower than the national rate of 2.93% for the same time period.

Archie Carraway, President of the local Realtor Association said he believes the Monroe market will continue to strengthen in 2010 because of job-creation projects like the V-Vehicle Co. in Ouachita Parish and the ConAgra sweet potato processing plant in Richland Parish.

"Our market wasn't as impacted as hard as the rest of the nation, and with the new jobs on line for the region I believe our market will hold its own and grow in 2010 and the years moving forward," Carraway said.

If you're thinking of moving to Monroe, West Monroe, Sterlington or Calhoun, give me a call. I will help you find a good home with good resale value.

Gayle Causey, 318-614-5615
Relocation Specialist