www.batonrougehousingreports.com – Predictions for 2012 Greater Baton Rouge Housing Market. The image in the article of this prediction for 2011 Baton Rouge Home Prices to rise was only wishful thinking and didn’t materialize. In fact, the clear CoreLogic trend leading up to this 12/28/2010 prediction showed several months of the Baton Rouge home price index dropping. As a local Home Appraiser and seeing the numbers and appraising so many foreclosures, I didn’t have any faith in such a prediction of rising home prices for 2011. Baton Rouge, based on local incomes and the enormous income gap, was due for a home price correction. And, 2011 finally delivered this much needed home price correction, see: 2011: The Year Of Correction For East Baton Rouge Real Estate Prices Even Southdowns corrected to some extent. My 2012 Baton Rouge Housing Price Prediction. For 2012, I expect more of the same as in 2011. I expect GBR home prices to continue to correct from such lofty heights post Hurricane Katrina and lack of local income growth. I expect foreclosures to continue to mount in the under $175000 range. I expect home sales to continue to improve based on corrected lower home prices to some degree and added supply of more affordable new home construction. Some Sellers In Denial, Asking Too Much! Some local home sellers are in “denial” and are asking far too much for their homes based on the post Hurricane Katrina psychological impact of so much appreciation so fast. It’s easy to …
