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Article: Forbes: New Orleans, Baton Rouge among America's '25 Strongest Housing Markets'
- Article from:
- New Orleans CityBusiness
- Article date:
- January 13, 2009
CopyrightCopyright 2009 New Orleans CityBusiness. Provided by ProQuest LLC. (Hide copyright information)
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New Orleans and Baton Rouge are two of "America's 25 Strongest
Housing Markets," according to Forbes, which published the list
Wednesday.
"New Orleans is another market that was relatively robust until
the national downturn cast a shadow on local prices," Forbes says.
"Money poured into the Big Easy after Katrina destroyed the city and
a long, slow renaissance began. Housing prices popped 13.7 percent
in the third quarter of last year compared to a year earlier,
according to Zillow.com, $135,000 on average. Moody's is forecasting
a fall of 2 percent this year."
According to Forbes, the New Orleans metro area has a population
of 1,058,600. The bottom is expected at the end of this year ...