Getting to Home Study Results

Louisiana REALTORS® • October 3, 2023

A Snapshot of Homeownership Opportunity in Louisiana 

This statewide study, Getting to Home: A Snapshot of Homeownership Opportunity in Louisiana, was conducted in the summer of 2023 by the Louisiana REALTORS®, and was funded in part by the Louisiana REALTORS® Political Action Committee. SSA Consultants of Baton Rouge conducted the study.

 

The general focus of the study was barriers to homeownership and the design included a foundational set of four online surveys and a series of 31 individual interviews to capture the insights and perspectives of REALTORS®, including agents, brokers, and appraisers, mortgage banking professionals, and land title professionals actively working in Louisiana’s housing market. The study began in April 2023 and was completed in September 2023. The study findings include the following priority issues.


Interest Rates

The spike in mortgage interest rates since the fourth quarter of 2021 is recognized as a substantial barrier to homeownership. Study participants also recognize that the historically low interest rates enjoyed during the years of the pandemic are constraining the homebuying market today. Participants though, understand interest rates as a national commodity that rises and falls with national economic trends and federal policy. Consequently, the survey results include some cautious optimism that mortgage rates will peak and then moderate as the national inflation rate declines.

 

Homeowners Insurance

Dramatically increasing homeowners insurance premiums are recognized as a substantial barrier to homeownership. Study participants possess a solid understanding of homeowners insurance as a state-regulated product, the cost of which is influenced by state laws and regulations, and Louisiana’s geographical risks (i.e., hurricanes and floods). The rising costs of homeowners insurance is uniquely worrisome to study participants, because, unlike the interest rate issue, they are less certain about how the market for homeowners insurance improves and prices moderate. Study participants question if Louisiana can or will make meaningful change.

 

Flood Insurance

Dramatically increasing flood insurance premiums is recognized as a substantial barrier to homeownership. The study results indicate a solid grasp of flood insurance as a federal program (National Flood Insurance Program or “NFIP”) vital to insuring flood risk homes across Louisiana. Study results also indicate a general confusion and frustration with the Risk Rating 2.0 program changes.

 

The Affordability Problem

Affordability is the umbrella problem created by the current challenges with interest rates, homeowners insurance, and flood insurance, combined with the additional present barriers of general inflation, increasing home prices, and the lack of affordable housing choices/inventory. Study participants recognize that the affordability problem falls most heavily on young first-time homebuyers and other potential homebuyers seeking to buy in the lower price ranges.

 

You can view the results from the study by clicking here.

By Louisiana REALTORS® June 6, 2025
The National Association of REALTORS® Board of Directors approved a 2026 budget with no dues increase and passed a Professional Standards Recommendation to clarify language in NAR Code of Ethics Standard of Practice 10-5, which prohibits harassment of any person or persons protected under Article 10 of the Code. A day earlier, the Executive Committee approved another Professional Standards change, revising language for Policy Statement 29 designed to ensure state and local associations can fairly and consistently enforce the Code of Ethics. Learn more about the changes. Read the revised Code of Ethics and Standards of Practice. Board members also approved a consent agenda to elect the 2026 officers and regional vice presidents . Christine Hansen of Ft. Lauderdale, Fla., was elected 2026 President-Elect, and Colin Mullane of Ashland, Ore. was elected 2026 First Vice President. The meeting opened with a video message from President Donald Trump, who welcomed REALTORS® to Washington and thanked them for support of the House-passed tax reform. NAR routinely invites the U.S. president to address REALTORS® at the Washington meetings. Over NAR's history, nine sitting presidents have addressed the association. Board Actions Approved a series of Finance Committee recommendations, accepting the association’s financial statement, approving the 2026 operating and advocacy budgets, and keeping dues at $156. The board actions also redirect $35 of the $45 Consumer Advertising Campaign assessment to operating funds. This change positions NAR to make its next settlement payment in February 2026 and maintain a balanced budget without raising total dues. The remaining $10 for the Consumer Advertising Campaign will fund optimized, metrics-driven activities that reach and engage consumers in critical markets. NAR CEO Nykia Wright and President Kevin Sears explained the shift at the opening session of the conference . Amended Standard of Practice 10-5 to give state and local associations greater clarity in how to fairly and consistently enforce Article 10 of the Code of Ethics. The amended Standard of Practice says that REALTORS®, in their capacity as real estate professionals, in association with their real estate businesses, or in their real estate-related activities, shall not harass any person or persons based on race, color, religion, sex, disability, familial status, national origin, sexual orientation, or gender identity. Made a series of recommendations to the Standards of Practice to bring the language in line with the terms of NAR’s 2024 settlement. Approved a motion to make one member of the Executive Committee a commercial practitioner who has served as chair, vice chair or liaison of an NAR commercial-related committee or forum to serve a two-year term and be independent of the 10% commercial representation requirement outlined in the NAR Constitution. Approved a recommendation from the Credentials and Campaign Rules Committee to amend qualifications for president-elect, first vice president and treasurer effective Jan. 1, 2026. Qualifications for top-line officers are now aligned with those already in place for regional vice presidents. Approved recommendations from the Member Accountability Committee related to applications for volunteer leadership and the Statement of Appropriate Event Conduct. The goal of the recommendations is to ensure members found in violation of the NAR Member Code of Conduct are properly disclosed. Award Winners NAR President Kevin Sears announced the 2025 Distinguished Service Award winners James P. Cormier , AHWD, C2EX, of Minneapolis-St. Paul, and Brooke S. Hunt , AHWD, E-PRO, SFR, SRS, C2EX , of Flower Mound, Texas. In addition, the group recognized the winner of the 2024 William R. Magel Award, Anne Marie DeCatsye , CEO of the Canopy REALTOR® Association and Canopy MLS in the Charlotte, N.C., metro area. REALTORS® Relief Foundation  During the meeting, REALTORS® Relief Foundation President Greg Hrabcak appealed to board members to make a tax-deductible donation. The fund provides housing assistance to victims in the immediate aftermath of a disaster; 100% of funds donated go to disaster relief. “We’ve had devastating wildfires in California, tornadoes in Missouri and Kentucky and flooding in West Virginia, and we’re still in the first half of this year,” Hrabcak said. Before the meeting ended, directors had donated more than $41,000.
How to Leverage National Homeownership Month in Your Marketing
By Louisiana REALTORS® June 5, 2025
Whether you’re working in Baton Rouge, Shreveport, Lafayette, or anywhere in between, here’s how you can use Homeownership Month to elevate your real estate marketing and better serve your community.
What Homeownership Means for Building Wealth
By Louisiana REALTORS® June 2, 2025
Here are key insights and ready-to-use talking points to show your clients how homeownership is more than just a place to live—it's a smart strategy for long-term wealth building, especially right here in our state.
Show More