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Shreveport-Bossier Housing Market Faces Rising Prices

A glimpse of the Shreveport housing market, adapting to rising prices and interest rates.

News Summary

The Shreveport-Bossier housing market is now facing significant challenges with escalating prices and rising interest rates, impacting home buyers. Recent trends reveal that sales are down compared to previous years, despite a high demand for affordable homes. Local realtors are adapting to these challenges while hosting open houses and providing valuable insights for prospective buyers. As inventory shrinks, experts suggest a shift may be occurring toward a buyer’s market, offering opportunities amidst ongoing struggles.

Shreveport-Bossier Housing Market Faces Challenges with Rising Prices and Interest Rates

Shreveport, Louisiana, is buzzing with activity in the local housing market as realtors adapt to an ever-evolving landscape marked by rising costs and climbing interest rates. On February 1, 2025, realtor Stephanie Stuart set the stage for interested buyers by hosting an open house at a charming home located at 116 Albany Avenue, priced at $269,950. The event attracted local home seekers and featured insights from Kathy Niemoth, a loan officer at Green Light Mortgage, who lent her expertise on managing today’s steep 7% interest rates.

Sales Trends: A Closer Look

Home sales in the Shreveport-Bossier area consistently show intriguing trends. Throughout 2024, a total of 4,398 homes were sold, a number that barely surpasses the 4,390 sold in 2023. This represents a stark decline from the 5,459 homes sold in 2022 and the even higher 6,462 in 2021. As real estate experts analyze these figures, they find that the past two years have mirrored each other, offering little comfort to those hoping for a quick turnaround.

Home Prices on the Rise

The average price for a standard 1,600-square-foot home in the area currently hovers around $240,000. This figure continues to climb, with properties once valued at $75,000 now demanding closer to $150,000. The high demand for affordable homes priced under $200,000 has left many prospective buyers scrambling as these properties often require extensive renovations, or are simply out of reach.

Inventory Woes and Market Dynamics

The challenge of finding suitable homes is compounded by a broader trend: more than 47% of mortgaged homes in the U.S. are classified as equity-rich. This situation leaves many homeowners hesitant to sell, fearing they might lose their advantageous low-interest mortgages. As a result, less inventory is available in the market.

Two Bossier zip codes, 71167 and 71151, have experienced some of the steepest price hikes, soaring by 43.74% and 31.1%, respectively. Meanwhile, Shreveport shows marked price variances among its neighborhoods, particularly in the 71106 area, where property values can swing between low-income and high-end markets.

Shifting Towards a Buyer’s Market

buyer’s market. With more choices available, the intense competition for homes appears to be easing, although finding affordable options remains a heavy burden for many families seeking homes priced between $140,000 and $200,000.

The Future of Shreveport-Bossier Housing Market

If you find yourself navigating the challenging waters of home buying or selling in Shreveport-Bossier, rest assured that local realtors are working diligently to find solutions that make the process as smooth as possible. Stay tuned, as this evolving market continues to present both challenges and opportunities for those ready to dive in!