Optimism Defines NOMAR 2025 FORECAST Symposium. Photo by Kelly Hite.
NEW ORLEANS — Optimism was a prevailing theme at the New Orleans Metropolitan Association of REALTORS’ (NOMAR) 15th annual Economic and Real Estate FORECAST Symposium, held under the banner “Breaking Ground: The Emergence of a New Economy.” Presented by Gulf Coast Bank & Trust, the event gathered hundreds of real estate professionals, investors, and public-sector
Presented by Gulf Coast Bank & Trust, the event gathered hundreds of real estate professionals, investors, and public-sector leaders to identify areas for growth and discuss market trends and policy issues shaping the region. More than 30 exhibitors showcased their businesses in the exhibit hall, with Mignon Richard Diaz, vice president of NAI Rampart, serving as this year’s committee chair.
“Understanding the paramount importance of providing our community with the latest information and relevant strategies to service our clients, we have assembled a diverse array of experts to dive deep into economic analysis and forecasting, as well as to explore creative solutions to meet the market where it is today,” said Diaz.
The conversations reflected an atmosphere of cautious confidence that resonated with many attendees. Stephen Keighery, founder and CEO of Home Buyer Louisiana, said he sensed a clear shift in sentiment after attending the Symposium. “This year felt different,” said Keighery, who also serves as a director for the New Orleans Real Estate Investors Association. “The mood in the room was far brighter than in the last two years. While the market isn’t booming, we’re seeing genuine green shoots, new development activity, improving sentiment, and investors starting to re-engage.”
Economic Factors
Gary Wagner, an economic researcher and advisor at the University of Louisiana Lafayette, said that Orleans Parish currently has eleven months of inventory with prices likely to remain flat unless demand picks up. While that may signal a slow market for sellers, other analysts pointed to Louisiana’s broader strengths as signs of resilience. Among them was Bret Swango, Senior Vice President of Workforce Analytics & Location Strategy at Colliers International, who highlighted the state’s relative affordability as a key reason to stay bullish.
A Call to Action and Collaboration
Beyond market dynamics, speakers emphasized the need for stronger coordination between the real estate community and local governments. Former Jefferson Parish Sheriff and WWL radio host Newell Normand delivered the afternoon keynote, urging attendees to take an active role in civic processes. “Things don’t just happen. You have to make them happen,” Normand said, calling on NOMAR members to attend local government meetings and engage more directly with policymakers to drive progress.
Throughout the day, speakers highlighted the importance of “derisking” projects, building stronger public-private partnerships, and leveraging government incentives to stimulate investment across the metro area.
Mike Sherman, founder and managing partner at Sherman Strategies, said proactive planning is critical to reducing exposure to future risks. “Derisking can include purchasing material well in advance before things like tariffs and inflation kick in,” he explained. “We’re actually seeing disinvestment in Orleans Parish because it is so dysfunctional. People would pay a few extra bucks to get a quick permit. When you have a lot of conditional use requirements, it opens a lot of opportunities for arguments.”
Developers Confront Market Realities
During the afternoon panel “Where Are We Breaking Ground?” moderated by Paul Richard, partner and managing director at NAI Rampart, developers and investors explored the forces driving new construction across the region. “Every parish has different requirements,” Richard said, emphasizing the need for local knowledge and coordination when pursuing projects.
Richard Albert, president and principal of Albert Architecture, discussed how his team uses parish planning tools and historical data to align with incentive programs. “We meet with parish officials and banks to understand the requirements. We look at the historic maps and try to find projects that hit multiple incentives. The Lafitte Greenway is a good example that stimulates development across a range of businesses,” said Albert. “We actually moved our office there. Parking is easy. Spaces like the Lafitte Greenway drive a lot of economic development.”
Lauren Gibbs, president and CEO of Gibbs Construction, emphasized early collaboration as a way to keep budgets on track. “Bring the contractor onboard early,” she said. “This will help control costs. Finding the right partners is essential. Materials costs are rising but labor costs are falling.”
“We understand how to efficiently navigate a very inefficient process. We need both to be efficient to attract external investment. We need to ask ourselves how we can make this a better place. It’s a really important part of fueling growth,” said Gibbs.
Michael Merideth, CEO of Verius Property Group, said design-build models and vertical integration have become increasingly common as developers seek to control costs. “At least five times over the last four or five years investors said to me that they will not invest in New Orleans because of the zoning and permits issues,” he said. “We need predictability. Capital investors are looking for predictable success.”
Industrial Drivers
As panelists noted, new sectors are helping offset some of the challenges facing traditional development. In a later session on demand drivers, Bryce French, managing director at Stirling Properties, said industrial expansion is becoming a major driver of regional growth. The success of Propel Park in Michoud and the upcoming LIT Port in St. Bernard Parish highlight how these projects are reshaping Greater New Orleans’ economic landscape.
Renewed Optimism and Forward Outlook
Despite ongoing challenges, Sherman said he has “never been as positive” as he is today. “There’s a renewed energy. There’s so much reason to be optimistic again,” he said. “A lot of development is moving uptown but also the river is hot.”
Keighery shared that optimism, pointing to Louisiana’s affordability advantage. “Compared to other states battling soaring costs, we have room to grow and that affordability continues to attract both residents and employers,” he said. “I’m closing my 50th deal of the year. It's a milestone number but I think the implication is deeper as it’s a record year for us and fits the contrarian approach I have been talking about. If that momentum continues,” he said, “I think 2026 could mark the start of meaningful recovery and new growth for our city and state.”
About NOMAR
Founded in 1915, the New Orleans Metropolitan Association of REALTORS (NOMAR) serves roughly 6,400 real estate professionals across ten parishes. The organization promotes professional standards, advocates for property rights, and connects members through education and outreach. NOMAR’s Commercial Investment Division (CID) provides specialized resources for brokers and agents, including training scholarships, discounted access to the Louisiana Commercial Database, an annual awards program, and professional networking opportunities.
Through the Gulf South Real Estate Information Network, NOMAR is also a founding member of ROAMMLS, Louisiana’s largest multiple listing service with more than 12,000 REALTOR members across 32 parishes.
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