The American Press received two surveys recently that suggested the Lake Charles real estate market is weak, and Louisiana is the worst place to retire.

Some survey results should not be taken at face value, according to Dan Groft, a McNeese State University economic professor and economist with the SWLA Economic Development Alliance.

Veros Real Estate Solutions ranked 328 U.S. Metropolitan Statistical Areas by the predicted strength of housing markets over the coming year, and ranked Lake Charles dead last with a predicted price growth of -2.9%.

On Thursday, the American Press emailed Veros, and still has not received answers to questions such as how the 328 MSAs were selected, and the year from which the data was collected.

Steve Floyd of Coldwell Banker Ingle Safari, checked out the Veros online site, noting only 1,000 followers, which he said seems a low number for a company putting out survey results that are broadcast as news without further detail.

“I’ve never heard the words price and growth used together in our industry,” Floyd said.

“Data from Louisiana Realtors indicates the total number of homes sold statewide in 2024 was 38,450, a 2.6% drop from the previous year. The median sales price of those homes was 2.1% higher, returning to its 2022 level of $245,000,” according to a recent housing market article in the Illuminator.

“Let’s say the Veros prediction is true. If you had a 2.9% swing up or down in your stocks or 401K, did you have a heart attack? If that is the worst in the nation, that makes me want to buy real estate. I have had 10% swings.”

Floyd said it’s just anecdotal, but agents are showing more and more appointments are being set.

He didn’t sugarcoat what’s happening or suggest everything is rosy in real estate.

“Maybe the new administration will get a better hold on how to help the economy,” he said.

He admitted the chilly market is largely due to interest rates, and it’s not just the Lake Charles market that’s been impacted. He said 2021 was the best year Coldwell Banker, Ingle Safari and other local agencies have ever seen. Rates were still low.

For those who want to make a move, Floyd advised marrying the house and dating the rate.

“Pay whatever you can negotiate with your mortgage and then when rates go down, refinance.”

It’s also worth noting that for folks in the market to buy a home, this could be the “best of times.” Motivated sellers might be more willing to negotiate, fewer buyers means less bidding above the asking price and if houses are moving slower – for now – that means more for the buyer to choose from.

Florida best for retiring, Louisiana, worst?

WalletHub released its report on the Best & Worst State to Retire. Best states were selected based on low taxes and low cost of living to help retirees’ budgets stretch as far as possible.

Louisiana ranked 49, Kentucky was 50. Florida was in the top spot.

In addition to affordability, quality of life and health care measures were used to determine the best and worst state for retiring.

Juan E. Gallardon of the Texan Smart Financial Education Center, was asked to contribute expert commentary regarding the results of the survey. He advised retirees not to focus solely on the cost of living without considering other factors such as access to healthcare, proximity to family, climate suitability and the availability of community activities.

“A healthy social life has been shown to be an important contributor to longevity,” Gallardo said.

Florida, according to the U.S. News & World Report survey, has a cost of living that is 1.14 times higher than the national average.