Louisiana Ranks Close To Last When It Comes To First Time Home Buying
Thankfully, I live in the most amazing apartments in town, Reflections of Island Park, so I haven't had to deal with this yet.
According to a new study by Bankrate.com, Louisiana ranks near the bottom when it comes to first time home buying. In fact, according to the study, there are only three states ranked worse than us.
Analysts Claes Bell spoke on why the results were so bad for our great state, blaming it on the tightness of our market. He also claims that there are fewer homes to be bought in Louisiana because construction isn't keeping up with demand.
“You’re seeing the number of people who are potential buyers increase, but inventory is not keeping up with that. So that may cause there to be fewer homes available, and that’s a big problem for first time buyers,” Bell said.
The good news is, there is hope for first time home buyers in Louisiana. Bell said that you'll gain an advantage when buying, if you go to a local lender instead of using a national company.