BATON ROUGE, La. (AP) — The 2014 outlook for the Baton Rouge real estate market is largely positive, thanks to the thousands of new jobs that are projected to come to the area and an improving national economy.
Tom Cook, an appraiser with Cook, Moore & Associates, tells The Advocate (http://bit.ly/1qER39L ) the residential market is on fire.
There were 8,870 home sales in the eight-parish Greater Baton Rouge Multiple Listing Service for the 12-month period ending in February. That's a 15.3 percent increase over sales for a similar period ending in February 2013.
In East Baton Rouge, Ascension and Livingston parishes, Cook says there's a 90-day market going on, referring to the average number of days a home is on the market.
Cook says the biggest problem homebuilders are facing are delays in getting permits.
Information from: The Advocate,http://theadvocate.com