New Orleans housing market cools after two years of frenzy; here’s what’s causing the changes

Roxana Campos stands in her dining room on Thursday, February 2, 2023 where most of her belongings are packed in boxes awaiting the moving truck that will take her and her husband to Florida. She has been trying to sell her Metairie home. (Photo by Chris Granger | The Times-Picayune | The New Orleans Advocate) When Roxanna Campos and her husband put their 40-year-old Bucktown house on the market in January, they thought the three-bedroom brick Ranch would be a quick sell. She had reason to be optimistic. As a local real estate agent, Campos had a front-row seat to the bidding wars and buying frenzy that pushed up home prices across the metro area by more than 25%, on average, since 2019. But it’s been two weeks since her listing, and despite positive signals at the open house for agents and brokers, Campos hasn’t gotten a single offer. “I would have thought we’d have multiple offers by now,” said Campos, who is selling because of an upcoming move to Florida. “If we haven’t had any movement in the next week, we might have to rethink things.” Cooling off Campos’ experience is not unique. Across the metro area, sellers, […]

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