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Baton Rouge area home sales drop nearly 8 percent in May

1 year 11 months 20 hours ago June 23, 2015 Jun 23, 2015 Tuesday, June 23 2015 June 23, 2015 8:55 AM in News
Source: Associated Press
By: Associated Press

BATON ROUGE- The number of houses sold in metro Baton Rouge dropped 7.6 percent in May from a year ago, a decline that real estate experts are blaming on tight inventory.

There were 848 homes sold in May in the nine-parish area. That's according to figures released Monday by the Greater Baton Rouge Association of Realtors' Multiple Listing Service. That compares with 918 sales in May 2014.

This is the second month in a row that home sales have dropped. The Realtors' association said Monday that this also was the second month in a row that inventory levels dropped significantly year-to-year.

Through the first five months of the year, there were 3,613 home sales in the metro area, compared with 3,514 through May 2014, a 2.8 percent increase.

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