Damaged Home Sales Back Below Pre-Katrina Levels

posted by News Talk 99.5 WRNO - 

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The latest home prices report by the New Orleans Metropolitan Association of Realtors is bringing welcoming news for homeowners in New Orleans: prices in the city are finally on the rise.

For the first time since Hurricane Katrina, the report included damaged and unrenovated sales in the data. Damaged homes made up such a big percentage of market sales in past years that it was broken out into a separate chunk of the report.

Since there are less than 12% of single-family homes being sold in need of significant renovation, there is no longer a reason to put housing prices in the context of the storm.

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