T
he Lake Charles market in Louisiana is among the weakest in the US over the next year, according to a recent forecast by Veros Real Estate Solutions. This prediction ranks it as the lowest out of 328 metropolitan statistical areas surveyed nationwide.

    Joining Lake Charles in the top 10 weakest markets are New Orleans/Metairie, Monroe, and Slidell/Mandeville/Covington. Home prices in these areas are expected to decline: by 2.9% in Lake Charles, 2.2% in New Orleans/Metairie, 0.9% in Slidell/Mandeville/Covington, and 0.7% in Monroe.

    The forecast cites several factors contributing to the predicted decline, including rising insurance costs due to hurricane risks and a slowdown in migration patterns as companies enforce return-to-office policies. Nationally, home prices are expected to appreciate by 2.7%, down from 3.1% in the previous quarter, based on an analysis of various economic, housing, and geographic variables affecting home value.