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Slow year for real estate, but volume picking up

(DAILY COMET) - Showing the stress from the national recession, home sales in the Houma-Thibodaux area fell by 11.9 percent in 2009, data from local realtors show.

#forumnumcom h6 {width:250px;float:left;margin:18px 10px 0 0;padding:10px 0 15px;border-bottom:none;border-top:9px solid #888} While sales in Lafourche actually increased by 5.7 percent, growing from 332 in 2008 to 351 in 2009, Terrebonne saw a 20.4 percent decline, falling from 683 homes sold in 2008 to 543 in 2009.

“The real-estate market has indeed suffered,” said Mona Martin Christen, owner and broker at Mona and Co., a Houma firm. She believes fears about the economy, real or imagined, led buyers to hang back.

“People (were) afraid to execute sales not knowing if their jobs were going to get cut,” she said.

While Houma’s unemployment remained far below double-digit national rates, it did rise from 3.7 percent in January to a high of 5.5 percent in August.

Tougher standards for buyers seeking a home mortgage also cut into the number of potential buyers, real estate agents said.

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