Following a similar trend taking place nationally, sales of apartment properties in New Orleans slowed markedly in the first quarter as interest rates and general economic uncertainty gave investors pause amid potential fears of a recession. Between 2015 and 2019, an average of 15 multifamily properties traded across the New Orleans region each quarter. The total number of properties traded decreased each consecutive quarter in 2022 and remained flat during the first quarter of 2023, marking the lowest first quarter for apartment property sales since 2019.
Higher Cost of Borrowing Slows New Orleans’ Investment Multifamily Market
Mirroring a National Trend, Total Number of Properties Sold in First Quarter Sinks to a Four-Year Low
CoStar Analytics
May 23, 2023 | 8:16 P.M.
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- Properties
- American Can
3700 Orleans Ave, New Orleans, LA