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In May, existing home sales rose 5.1% with 6,370 closings compared to 6,059 last year. The average price was statistically flat at $458,299, and the median sales price was unchanged at $345,000.

The average sales price hasn't been that low since the third quarter of 2017. Gross margin on home sales was 17.8%, down from 18.7% in the previous quarter and 22.6% a year ago.

However, its average sales price of $389,000 declined from $408,000 in the first quarter and was lower than $426,000 a year earlier, as affordability for home buyers remains an issue.

Sales prices of single-family homes across Louisiana the same as $230,000 in February. Since March 2024, the sales price of single-family homes across the state was up 2.2% from $224,962.

Compared to March 2024, the median home sales price was up 3.6% compared to $195,000. Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in the data.

Compared to March 2024, the median home sales price was down 5.1% compared to $390,000. Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in the data.