The cost of buying a house surged across the New Orleans area this year, keeping pace with a national housing recovery, as local buyers competed for fewer houses on the market, according to a new analysis of real estate data for the New Orleans Metropolitan Association of Realtors. In some popular neighborhoods, prices spiked as high as 10 percent.
As a buzz about a New Orleans renaissance spreads across the nation, bringing job growth in the city and transplants from across the country, prices for houses in many urban neighborhoods and wealthier suburbs are one the rise.