Why House Hunters Will Be Ready To Buy In The Next Six Months

According to a survey done by Realtor.com, 46% of potential house buyers said they were planning on purchasing a home within the next six months. This study looked at those who accessed listings and search results of homes on the site. The survey justifies that although we look like we are in a recession and the 30-year fixed mortgage rate is close to 6%, this is not detouring buyers in the market. This share of buyers reported is actually higher than reported in 2019 even with mortgage rates reaching the highest level since 2008 and home prices increasing.

Many potential home buyers are looking at the market as an advantage. Rising inventory levels are bringing more options for buyers to find a home within their budget. It is reported that two in five buyers feel that the U.S. economy is already in a recession but it will have no effect on their decision to purchase a home in the near future. Close to 27% of home buyers are more likely to purchase while the economy is in a recession. This figure is up 24% from what was reported in 2021 although there are many potential home buyers that are scared of the current market. In fact, the share of buyers who say they are more than likely not going to purchase a home during a recession rose from 5% to 6.5% this year.

The housing market is definitely tipping the scale from a sellers’ market over to a buyers’ market. Those in the industry said there are fewer buyers who are being outbid going from 12.6% to 9.4% from this spring to summer. The share of buyers who report being overbid on a home has decreased as the market has begun to correct itself

Even though there are home buyers who are willing to purchase in an uncertain economic time, it is still a sellers’ market. Twelve percent of first-time homebuyers are still being outbid in today’s market. Two in five first-time home buyers are also having a hard time finding a home within their budget. Currently, the median price of homes in the U.S. was $435,0000 according to Reatlor.com. This summer was at an all-time high of $450,000! Twenty percent of first-time homebuyers also said they are having a hard time buying because of their credit score.

If you are a first-time homebuyer or in the market to purchase a home, you will want to work with a local real estate agent who can help you navigate these uncertain waters. A local agent can help you find a home in your price range in your desired area.

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Gentilly Festival Will Be Held At Pontchartrain Park

The Gentilly Festival is a three-day event full of music, art and food with  three stages located in Pontchartrain Park.   The festival is a free event that will run on Friday from 6pm – 9pm and on Saturday and Sunday from noon – 8pm.  The festival will be located at the playground at Press and Prentiss Drives.

This fall-filled New Orleans festival will also raise funds to support first responders and nonprofits that serve the Gentilly community.  “It’s going to be really exciting. We’re keeping our flavor, our flair of the community. We’re trying to unify and reunite the neighbors post-pandemic,” says chair and organizer of the festival Gretchen Bradford.

This year there will be over 25 food vendors and an eclectic range of entertainment.  There will be restaurants, caterers and food vendors from the area serving up their dishes at this year’s festival.  Many local caterers that are starting a business will introduce themselves through the festival. There will also  be veteran Gentilly food fest vendors that will also provide delicious assortments.  “We’ve got a little Latin, a little hip hop, brass, funk……….We got a little bit of that New Orleans bounce. We can touch many different audiences,” says Bradford.

The festival is a great event for the whole family.  This year there will be a Kids’ Village which will include pony rides, an entertainment stage, pottery making, face painting and more crafts.  For the adults, there will be tons of local organizations which will provide services and tell about what they have to offer for Gentilly residents, and for an additional charge a VIP Champagne Experience.

The Gentilly Festival is not just for locals, as the festival also attracts tourists and those who used to live in Gentilly and are back to visit for the event.  The festival will kick off with “Jazz Under the Stars” with live music and DJ’s.  Performers include Brian Quezergue Quartet, Indys Blu, Quiana Lynell and DJ Juane Jordan.

This is a fun time for Gentilly and all of New Orleans.  “We promote happiness,” says Bradford.

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Greta Van Fleet Live, November 1, 2022

This live concert is at the Smoothie King Center in New Orleans.

Greta Van Fleet

Smoothie King Center
1501 Dave Dixon Dr
New Orleans, LA 701130

November 1, 2022

Tickets $75+

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Broadway’s Disney’s The Lion King Live, October 27 – November 13, 2022

Come enjoy a night of jungle magic in New Orleans.

Disney’s The Lion King

Saegner Theatre
1111 Canal St
New Orleans, LA 70112

October 27 – November 13, 2022

Tickets $100+


Click Here to Purchase Tickets Online.

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Demi Lovato Live, November 1, 2022

Come to the Fillmore in New Orleans.

Demi Lovato

The Fillmore New Orleans
6 Canal St.
New Orleans, LA 70130

November 1, 2022

 Click Here for More Information.