Acadiana Business

Home sales up by 50 percent

by Heather Miller

The Advocate reports that Lafayette Parish home sales are outpacing sales reported in years past, prompting local Realtors to predict a good year for Hub City housing.
Home sales have been consistently rising in Lafayette Parish, bringing July's residential property sale numbers up 56 percent as compared to the same month last year.

According to The Advocate, Lafayette Parish saw 268 homes sold in July, 91 more than the 179 reported in July 2011:
That puts homes sales for the first seven months in Lafayette Parish 21 percent over the same period in 2011, 7 percent over 2010, 16 percent over 2009, and 8 percent over 2008, according to the report.

The first seven months of 2012 still lag behind the same period in 2007, a year that capped the housing boom in the years after hurricanes Rita and Katrina.

The report also shows that pending home sales in July were up 56 percent compared with the same month last year, an indication that the upward trend could continue through August.

"It would seem to indicate it isn't a one-month wonder," [Van Eaton & Romero Chief Executive Officer Bill] BacquƩ said.

Cumulative home sales for the first seven months in Lafayette Parish were at 1,522, compared with 1,262 for the same period last year, according to the report.
Read the full report here.