Single-Family Home Construction Available on the Northshore

New Urbanism is alive and well in the Greater New Orleans area with Mixed-Use Developments being built where previously housing projects had stood.  Many developers are tapping into the multi-family construction industry, building apartment housing in popular neighborhoods.  Single-family home construction is taking a backseat to these types of developments as well as multi-family condo and townhome construction also in the city of New Orleans.  Because of this, people relocating to the New Orleans area as well as young people graduating from college and moving out are finding it harder and harder to find the traditional “first time home buyer home.”

Surprisingly, Millenials, according to the National Association of Home Builders, tend to want to live in single-family homes in the suburbs.  According to the NAHB’s survey, 75% want traditional new homes, and 66% prefer to live in the suburbs with only 10% choosing urban living, such as living in downtown New Orleans or the outlying areas.  While nationally this is a trend, the migration of Millenials may very well benefit the Northshore of the lake because in St. Tammany Parish, there are plenty of new homes for sale as well as lots for sale.

Since the Recession, home pricing has been somewhat unreliable, but now housing prices seem to have stabilized, so it is less difficult to acquire housing finance for new home buyers looking to buy their first, second, or even third home.  Another factor that may drive new home buyers to the north shore is the fact that inventory in popular, safe neighborhoods in New Orleans such as the Garden District, Bywater, Uptown, etc., is very scarce, prompting bidding wars among home buyers.  Young home buyers may get priced out of the market with competitive pricing being higher than normal.

Regardless of where the Millenials in the Greater New Orleans area choose to buy their new, single-family home, Bedico Creek Preserve is “ready” for any type of home buyer with 10 Neighborhoods from which to choose new homes for sale and lots for sale.  Lot pricing at Bedico Creek starts in the $40’s, and new home prices start in the $240’s.  If you are ready to view a lot for sale or new home for sale, Contact Bedico Creek at 985-845-4200 or E-mail Info@LiveBedico.com.

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