Weekly property update from Shreveport


Rising home prices in the US appear to be out of sync with fundamentals, as was the case during the pre-financial crisis housing bubble of the late 2000s, the Federal Reserve Bank of Dallas warns in a new report released March 29.

There is evidence of what the bank is calling abnormal housing market behavior for the first time since the 2000s. The bank’s analysts cite economic indicators such as price-to-rent ratio and price-to-earnings ratio.

However, they do not expect the consequences of a housing correction to be comparable to the global financial crisis of 2007-2009. Excessive borrowing doesn’t seem to be fueling the housing boom, they say.

Strong home prices continued through March, when they were up 20.6% year-on-year, according to the S&P CoreLogic Case-Shiller Home Price Index. Rate hikes by the US Federal Reserve to curb inflation pushed the average interest rate on a 30-year fixed-rate mortgage to 4.67% at the end of March.

Some observers expect prices to fall after the number of sales has dropped. But real estate agents are warning that demand remains high, with multiple listings for homes. They also expect more homes to come on the market as sellers try to take advantage of the boom.

To help you stay current on the market, ZeroDown has created a weekly housing market report in the Shreveport, LA metropolitan area using data from Redfin. Statistics are for the four weeks ended May 29, 2022. Metros with more than 50 homes sold during this period were included for the Metro-level rankings for each statistic.

Medium selling price

Greater Shreveport, LA:
– Median retail price: $226,812
– One-year change: +11.1%

Metropolises with the highest median selling price
#1. San Francisco, California metropolitan area: $1.6 million
#2. San Jose, California metropolitan area: $1.6 million
#3. Santa Cruz, California metropolitan area: $1.2 million

Metropolises with the lowest median selling price
#1. Davenport, IA metropolitan area: $125,438
#2. Bay City Metropolitan Area, MI: $130,625
#3. Weirton metropolitan area, WV: $132,438

Average selling price per square meter

Greater Shreveport, LA:
– Median retail price per square foot: $126
– One-year change: +15.2%

Metropolises with the highest median selling price per square foot
#1. San Francisco metropolitan area, CA: $1,106
#2. San Jose, California metropolitan area: $967
#3. Kahului, HI metropolitan area: $955

Major cities with the lowest median selling price per square foot
#1. Davenport, IA metropolitan area: $85
#2. Peoria, IL metropolitan area: $87
#3. Carbondale metropolitan area, IL: $89

Relationship between sale and list price

Greater Shreveport, LA:
– Ratio of average selling price to list price: 0.99
– Annual change: +0.01

Metropolitan areas with the highest ratio of sales to list price
#1. Rochester metropolitan area, NY: 1.15
#2. Oakland, California metropolitan area: 1.13
#3. San Francisco metropolitan area, CA: 12/1

Metros with the lowest ratio of sales to list price
#1. Lake Charles, LA metropolitan area: 0.94
#2. Weirton Metropolitan Area, WV: 0.96
#3. Greenville, OH metropolitan area: 0.96

Homes sold with price drops

Greater Shreveport, LA:
– Houses sold at a discount: 16.0%
– One-year change: +14.6%

Metros with the most houses are sold with price cuts
#1. Metro Beaumont, TX: 28.3%
#2. Greater Victoria, TX: 27.1%
#3. Greater The Villages, FL: 26.9%

Metros with the fewest houses are sold with a drop in price
#1. Brownsville, TX metropolitan area: 0.0%
#2. Visalia Metropolitan Area, CA: 0.0%
#3. Redding, California metropolitan area: 0.4%

Off market in two weeks

Greater Shreveport, LA:
– OTC in two weeks: 63.8%
– One-year change: +0.9%

Metros with the most houses not on the market in two weeks
#1. Rochester, NY metro area: 88.1%
#2. Seattle, Washington metro area: 84.9%
#3. Grand Rapids metropolitan area, MI: 84.6%

Metros with the fewest houses not on the market in two weeks
#1. Greater Morristown, TN: 0.0%
#2. Metropolitan Honolulu, HI metro area: 2.8%
#3. Oshkosh, Wisconsin metropolitan area: 4.6%

months supply

Greater Shreveport, LA:
– Delivery months: 6.8 months
– One-year change: -0.9 months

Metros with the most delivery months
#1. Lake Charles, LA metropolitan area: 204.2 months
#2. Brownsville, TX metropolitan area: 47.6 months
#3. Atlantic City, NJ metropolitan area: 19.2 months

Metros with at least months supply
#1. Greater Lewiston, ME: 2.8 months
#2. Portland, ME metropolitan area: 3.1 months
#3. Burlington, NC metropolitan area: 3.2 months


This story originally appeared on ZeroDown and was produced and distributed in association with Stacker Studio.

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