Natchez, MS-LA

There is no doubt that the Natchez, MS-LA metropolitan statistical area (MSA) has been one of the hardest hit areas in terms of the housing market. Home prices have plummeted and foreclosures have skyrocketed. However, there are signs that the worst may be over for this area.

One reason for optimism is that the job market in the MSA has begun to improve. The unemployment rate was at a staggering 10.6% in 2010, but has since fallen to 7.4%. This means that more people are working and have the income necessary to afford a home. Additionally, wages in the area have begun to rise, which will further help people afford a home.

Another reason for optimism is that there has been an increase in population in recent years. This is due, in part, to people moving from other parts of Mississippi and Louisiana to take advantage of lower housing costs in the MSA. As more people move into the area, demand for housing will increase and prices will begin to rise again.

Finally, there are a number of new developments underway or being planned for the MSA. These include new residential subdivisions as well as commercial and retail developments. This increased development activity indicates that investors believe that the MSA is on its way back up and that now is a good time to buy property here.

All of these factors point to a slowly improving housing market in the Natchez, MS-LA metropolitan statistical area (MSA). Prices are still low and there are still many foreclosures on the market; however, things appear to be heading in the right direction and it may not be long before this area once again becomes a desirable place to live