Louisiana home prices buck trend, rise in first quarter

• By CHRIS GAUTREAU
• Advocate business writer
• Published: May 23, 2008 - Page: 1D - UPDATED: 12:05 a.m.

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Louisiana bucked the trend of 43 other states, posting first-quarter gains in home prices from the year-ago period, according to a U.S. government index released Thursday.

The Office of Federal Housing Enterprise Oversight said that in the January-March period, prices rose 3.3 percent statewide during the 12-month period.

The Houma-Thibodaux market ranked No. 1 in the country, with prices gaining 11.2 percent from a year ago.

For the state’s remaining real estate markets, home prices:

• Rose 3.7 percent in Baton Rouge, which ranked No. 64.
• Rose 4.7 percent in Lafayette, which ranked No. 35.
• Gained 3.2 percent in Monroe, which ranked No. 82.
• Increased 2.0 percent in Shreveport, ranked No. 120.
• Rose 8.4 percent in Alexandria, which is not ranked nationally.
• Rose 6.1 percent in Lake Charles, which is also unranked.

New Orleans, which ranked No. 190, was the state’s only market with a loss, falling 0.1 percent.

Among the report’s nine national regions, the west south-central, which includes Louisiana, was top-ranked, posting a 3.9 percent gain from a year ago.