Baton Rouge residential real estate market should tilt toward buyers in 2018
The local residential real estate market is expected to slow down and tilt toward buyers in the coming year, returning to the slow but steady growth seen before the August 2016 flood.
While some still see lingering effects from the flood, home sales have slowed recently, a sign that the market is recovering. Provisions in tax legislation Republicans are pushing through Congress could also put a damper on residential real estate in the future by taking away incentives for homeownership.
Yet, the anticipated cooling doesn’t necessarily mean it will be a bad year for home sales in the Capital Region. Baton Rouge can afford an inventory increase and a sales slowdown while still remaining healthy. That’s because last year’s flood has had such an extreme impact on the market.
“I don’t think it’s going to be a bad market next year,” says Tigue Bonneval, of Audubon Real Estate Associates. “I just think it’s going to be a slower market.”