NEW ORLEANS-As the New Orleans metro area continues to recoup jobs and residents, the region’s apartment market has improved, and the outlook for the sector is bright, according to Mark Inman of Coldwell Banker Commercial TEC Realtors.
Over the past 10 years, the New Orleans population decreased by nearly 30% due to Hurricane Katrina and the subsequent flooding. The region lost nearly 185,000 jobs, as well.
However, recent forecasts from the University of New Orleans suggest that the region’s population could rebound to 98% of its pre-storm population by 2015. Additionally, the institution forecasts 526,200 jobs by the end of 2012 – representing 87% of jobs available pre-Katrina.
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