Lake Charles Economic and Housing Trends are Positive

Considering Selling Your Lake Charles Home NOW IS THE TIME!

Marilyn Boudreaux Century 21 Lake Charles

The Lake Charles economy and real estate market are connected, both in a positive stable way.

Lake Charles Real Estate is projected to be the strongest real estate housing market in Louisiana by 2014, according to an analysis by Bloomberg Businessweek.  Lake Charles  Real Estate is forecast to see a 6% increase in home prices over the next four years,  According to Bloomberg Businessweek, Lake Charles Real Estate is likely to be one of the strongest-performing small markets in the U.S.

Southern Business & Development has recognized Louisiana as State of the Year with Lake Charles being a mid market winner for economic projects.For the third year in a row, Louisiana picked up a trio of top honors from Southern Business & Development magazine for its economic development . Louisiana was named State of the Year, while New Orleans and Lake Charles were named as the top cities in their respective categories. This is the fourth time in five years Louisiana was named State of the Year.

In a recent press release from Louisiana Economic Development it was reported that Louisiana ranked best in the U.S. on a per-capita basis in Site Selection magazine’s “Governor’s Cup” rankings. “This ranking is yet another example of our state’s strong economic momentum and shows why it’s critical to keep taxes low and invest in workforce development programs,” said Gov. Jindal. “By any reasonable measure, Louisiana’s economy has outperformed the South and the U.S. since the beginning of the national recession, and we’re just getting started.

Lake Charles ranked first among metropolitan areas with populations between 50,000 and 200,000. Business Facilities also chose Louisiana as the 2010 State of the year!

Southwest Louisiana and Lake Charles in particular is projected to have top economic growth in the State in 2011.  Louisiana has set a new record in the South for the number of economic development projects taking place across the state, as evidenced by its third consecutive State of the Year title in Southern Business and Developement’s 100 issue.

With new jobs and industry expansion will come the need for more housing. Economic Outlook for Southwest Louisiana is optimistic with new projects within our economy.   Lake Charles’ strength includes it’s petro-chemical industries, the Port of Lake Charles, and it’s growing stature in the United States’ biggest hub  for importation of Liquified National Gas (LNG).  The city’s Port is the 12th largest in the United States. The Petrochemical industries, Citgo, Conoco Phillips, PPG and several other players in the energy industry have also expanded operations in the Lake Charles, Westlake and Sulphur area.

Northrop Grumman has been recognized by Aviation Week Magazine as the 2011 MRO of the Year. Louisiana is proud to celebrate Northrop Grumman’s continued success at Chennault International Airport in Lake Charles and as an economic driver for Southwest Louisiana. Aeroframe Services in Lake Charles is also expanding. Lake Charles has been awarded the mid market of the year as reported in a recent industry article by theind.com

All this industry expansion strengthens the relocationof new residents moving to Southwest Louisiana. If you are waiting to sell your Lake Charles home you may miss out on a window of opportunity!

 

Excerpt from DS News reports:

“Home prices have gotten a little bit of a boost in recent months thanks to a seasonal uptick in market activity. Most analysts, however, expect further declines to characterize the later part of the year and possibly extend into next year, largely because of the huge supply of foreclosures on the market.”

Bottom Line

If you are thinking of selling in the next twelve months, you would probably do much better if you sold your house sooner rather than later.

Considering the Lake Charles strong economic picture and resident relocation rate, Lake Charles is an ideal community for many families looking for a new place to call home.  Contact Century 21 Mike D. Bono Realtor, MARILYN BOUDREAUX 337 499 9592 to discuss your relocation, buying and selling needs.  Visit the Lake Charles Real Estate and Homes for Sale website to see the services I can provide Lake Charles home sellers and Lake Charles home buyers


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