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    Affordable New Orleans Homes Remain in Short Supply

    Back in June 2020, we told you that there was a shortage of affordable New Orleans homes. Since then, the problem has only gotten worse.

    What’s happening?

    Over the last 12 months, the number of New Orleans homes priced under $175,000 has dropped from 270 active listings in January 2020 to 186 in February 2021. That’s a decrease of over 31% in available inventory.

    But the bad news doesn’t stop there. As of today, 3/4/2021, there are a mere 97 homes, townhouses, and condos listed under $175,000 – about half of what it was just a few weeks ago. Remove properties in fair and poor condition and you’re down to just 72. Take into account that in 2020 there were an average of 51 homes a month sold in this price range and you’ll quickly see why buyers are frustrated with finding a place to call home.

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