MANDEVILLE, LA – The St. Tammany Economic Development Foundation (STEDF) has released its annual summary of local economic data for the past decade. According to the data presented, both single family building permits and housing sales have risen steadily since 2010.
“Hurricane Katrina changed the market,” Brenda Bertus, CEO of STEDF, said. “Housing sales rose dramatically in the wake of the storm until 2007, when sales and construction both dropped significantly. It now appears that St. Tammany’s housing market is stabilizing.”
STEDF leads economic development in St. Tammany Parish, attracting new businesses and employment opportunities to the area. Their newly released “St. Tammany Parish Ten Year Economic Summary 2003-2013” found the number of issued single family building permits rose 78 percent from 2009 to 2013 and the number of homes sold rose 44 percent over the same period. The average price of homes sold rose to $225,540 in 2013, having fallen steadily since its last peak at $248,682 in 2007.
The STEDF report factored in information on population growth, parish employment, apartment rent and sales tax collections.
