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The Advocate
Tuesday, September 6th, 2022
 
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Why are homes so expensive now in Lafayette? Double-digit hikes 'unbelievable and unsustainable'

By ADAM DAIGLE | Acadiana Business Editor​ ​ ​

Good Monday morning, Acadiana. Let's get down to business to start off this short week.

While many markets around the country have gotten headlines for falling prices and swelling inventory, the Lafayette market is slower to reach that point. The average sale price of a home in the past two months in Lafayette Parish topped $300,000, and numbers for August when they come out this week may be more of the same. That's mostly due to the lack of inventory coupled with a demand that remains significant.

Both average and median sale prices have risen a sobering 13% over the last 12 months, and that coupled with higher interest rates on a mortgage have priced many out of the homebuying market. 

Said real estate analyst Bill Bacque: “That (increase) has been unbelievable and unsustainable."

You can read the story here. 

Have a great day and see you back here Wednesday morning. 

 
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One Acadiana buys this Jefferson Street building, will move downtown

One Acadiana has bought the former Home Bank building on Jefferson Street in downtown Lafayette. Read more

Parc de Oaks food truck park to offer Lafayette's north side more dining, entertainment

Christopher Amos has long wanted more diverse dining and entertainment options on Lafayette's north side. Read more

DREAMS Foundation launches food truck to make meat pies

The DREAMS Foundation of Acadiana, which serves about 700 special needs children in Acadiana, has launched DREAMS Manufacturing Co. to create jobs for those with special needs. Read more

 
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