Residential Real Estate in Baton Rouge Continues to Grow in 2019

The housing market in Baton Rouge continues to grow for the second consecutive year. It took many years for the real estate sector to recover from the aftermath of the financial crisis towards the end of the last decade. The construction industry was among the hardest hit. The housing bubble was one of the major triggers of the collapse of the financial markets. All of that seems to be in the past now. Baton Rouge housing market has never been as bullish in the last ten years as it is in 2019. The promising growth rate throughout 2018 has sustained and it is a great time for buyers and sellers, as well as investors. Interested homeowners can read a recent press release they published at https://drive.google.com/a/dependablehomebuyers.com/file/d/1qcI4DoFPHYDOzqVFQdDh7IyKNpuJDzho/preview.

Baton Rouge has no shortage of houses for sale. This should have lead to a buildup of inventory and the prices should have gone down. Instead, the supply has been met with an almost equal demand, thereby raising home prices and also reducing the inventory. More houses are getting sold much sooner than the average wait time of ninety days. New home construction has also picked up compared to the last few years. There has been a long lull in new home construction and the period witnessed the emergence of many new players in the market such as Dependable Homebuyers.

Evan Roberts, the founder of the We Buy Houses company, says that there was a lack of new houses for sale. Homeowners were struggling to sell their properties and the wait time was painfully long. Buyers too did not get the types of properties they wanted. His real estate investment firm played a crucial role by buying residential properties directly from the owners, renovating and improving the houses so they are more appealing to the buyers. Dependable Homebuyers has been instrumental in helping homeowners get fair prices for their houses. The company has also enabled buyers to check out pre-owned properties that meet their requisites.

The housing market right now is poised for sustainable growth for the rest of the year. There have been some concerns about the pace of growth for new home construction. There is only so much inventory the housing market can have if it is predominantly about old properties, even if they are renovated. There is also an impending recession as is being predicted by many economists, some of whom are experts in real estate. The new home construction has to pick up in the upcoming months if the growth has to be sustained. The present inventory and the expected growth can lead to an affordability crisis given the continued increase in home prices. Roberts says that there is no bubble and the increasing home prices are yet to lead to an affordability problem for buyers. But he also stresses on the importance of new home construction to ensure the growth does not stagnate. The housing market is also receiving a substantial boost from investors, especially those interested in vacation and rental properties in Baton Rouge. More of Dependable Homebuyers services can be found here.