Western wear retailer Boot Barn is saddling up for its next big move — this time to the New Orleans area. The company announced plans to open a brand-new 20,000-square-foot location this June at 1600 Westbank Expressway in Harvey, bringing its signature blend of western style and rugged workwear to more Louisiana shoppers.

Founded in 1978, Boot Barn began as a go-to destination for classic western essentials like cowboy hats, boots, and belt buckles. Over the years, it has evolved into a much broader retailer, offering everything from outdoor and work apparel to women's fashion, accessories, and rustic home decor. Despite that expansion, the brand has stayed true to its roots, maintaining its identity as a hub for those who live and work in western and rural communities.

With more than 460 stores nationwide and 56 new openings last year alone, Boot Barn has grown into the largest western and work wear retailer in the country. The Harvey store will mark its ninth location in Louisiana, joining existing stores in Alexandria, Baton Rouge, Houma, Lafayette, Lake Charles, Monroe, Shreveport, and Slidell.

For shoppers in the greater New Orleans area, the arrival of Boot Barn brings a new option for durable, stylish gear that blends function and flair — just in time for summer.

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The spring homebuying season is shaping up to be more promising than what buyers have experienced over the last few years. With a growing number of homes on the market, slowing price increases, and mortgage rates that are trending downward — or at least stabilizing — the conditions are becoming more favorable for those ready and able to purchase.

Home prices have been rising at a slower pace compared to previous years, and in some areas, they've even started to come down. According to Realtor.com, the national median listing price in March held steady at $424,900, unchanged from the same time last year. In fact, in 32 of the country's 50 largest metro areas, median listing prices were lower than they were a year ago. While the changes aren't dramatic enough to fully ease affordability concerns, they do offer some breathing room to buyers who have been sidelined by the intense price increases of the past five years.

Mortgage rates, which have been a major barrier to affordability, remain elevated but are more manageable than they were just a few months ago. The average 30-year fixed rate dropped to 6.6 percent in April, down from over 7 percent earlier in the year. This slight but steady decline gives buyers a bit more room in their monthly budgets and the potential to qualify for better loan terms. If the broader economic outlook continues to weaken — partly due to new tariffs and global market instability — there's a chance rates could fall even further, giving buyers a much-needed boost in purchasing power.

Perhaps the most noticeable change this spring is the increase in available homes. Active listings jumped 28.5 percent nationwide compared to last year, a sign that more sellers are entering the market and homes are staying available longer. As competition eases, buyers are finding more opportunities to negotiate. Sellers who might have expected bidding wars just a year or two ago are now more likely to offer concessions such as covering closing costs, accepting inspection contingencies, or even helping buyers temporarily lower their interest rates.

These changes don't necessarily mean it's a full-blown buyer's market, but the balance between buyers and sellers is more even than it's been in a long time. Buyers who are financially prepared are in a stronger position to shop without the same level of pressure that has defined recent years. Many are also taking advantage of temporary rate buydowns or planning to refinance down the road if rates drop more significantly.

However, affordability remains a serious challenge for many. Home prices have climbed nearly 50 percent in the past five years, and even with recent stabilization, they remain high relative to income. A household earning the median U.S. income would still need to spend nearly half of their annual earnings to cover the cost of a median-priced home — a share that is far above what the government considers affordable.

Still, the tide appears to be turning. For buyers with solid finances, this spring could be the best opportunity in recent memory to secure a home at a more reasonable price, with more options, and with less competition. Whether this moment leads to lasting change in the housing market depends on where mortgage rates go from here, but for now, home shoppers can feel a little more hopeful heading into the season.

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The housing market is heating up once again, and not just because of seasonal trends. As mortgage rates climb, more buyers are pushing into the market, and that surge in activity is helping drive home prices even higher. Rising borrowing costs and increasing property prices, a double pressure, is starting to reshape how and when buyers make their move, and what it might mean for future affordability.

Sales of existing homes rose 4.2 percent between January and February of this year, reaching an annualized pace of 4.26 million units, according to the National Association of Realtors. At the same time, the median existing home price jumped to $398,400, a 3.8 percent increase from a year earlier. It's a clear signal that despite elevated mortgage rates, housing demand is still alive and well. According to NAR Chief Economist Lawrence Yun, it is not a sudden drop in mortgage rates luring people back into the market, but rather a modest increase in inventory and a strong desire among buyers to act before prices rise even further.

So what is behind this upward price movement? A strong labor market, stubbornly low inventory and steady demand continue to be the driving forces. Even with mortgage rates hovering between 6 and 7 percent, buyers are motivated by concerns that waiting will only mean higher prices and fewer options. Job numbers from the U.S. Bureau of Labor Statistics support this behavior, showing a gain of 151,000 jobs in February and an unemployment rate of 4.1 percent which is a level generally seen as economically healthy.

But the most telling data point may be inventory. At the end of February, there were just 1.24 million unsold homes on the market, representing a 3.5-month supply at the current sales pace. A six-month supply is typically considered a healthy balance between buyers and sellers. With such limited inventory, competition is fierce, and prices are pushed upward as buyers race to secure a home before conditions become even more challenging.

This competitive pressure is also shaping who's buying. First-time homebuyers made up 31 percent of transactions in February, a noticeable increase from 26 percent the previous year. Meanwhile, investor activity has cooled, falling to just 16 percent of purchases from 21 percent a year ago. With fewer investor bids in the mix, more homes are going to those intending to live in them, but many of those buyers are still bringing strong cash offers that help keep prices elevated even as mortgage rates climb.

For those who are not paying with cash, navigating this environment requires careful strategy. Buyers may need to adjust expectations, whether that means looking at smaller homes, different neighborhoods or older properties that might need work. Others may consider flexible financing options, such as adjustable-rate or interest-only mortgages. While these can lower initial payments, they also come with risks that must be understood fully before committing.

Some buyers are taking the approach of buying now and refinancing later, hoping for a dip in rates. Refinancing can lead to lower payments or better loan terms, but it is not without costs. Fees, new closing costs and possible delays all need to be weighed carefully. For those with patience, timing can be another tool, waiting until the fall or winter, when buyer activity tends to cool, might open the door to better deals and more negotiating power.

Even as buyers wrestle with these decisions, current homeowners are seeing benefits. Rising prices mean growing equity, and that can open up new opportunities. Yun notes that for every one percent increase in home values, American homeowners collectively gain roughly $350 billion in equity. That kind of wealth increase can help fund a future purchase, home renovation, or other investments.

In a housing market shaped by limited inventory, strong employment and rising costs, the dynamics are shifting. Buyers face tough choices, but with thoughtful planning and an eye on both short-term needs and long-term goals, it is still possible to find the right home, and make a smart move.

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Should You Pay Cash for a Home or Take Out a Mortgage?

More people than ever are showing up to the closing table with cold, hard cash. As of February 2025, nearly one-third of home purchases in the United States were all-cash deals, according to the National Association of Realtors. That statistic might make you wonder if skipping the mortgage and writing a check for the full price of a house is the smarter move. While paying in cash might sound like the fast track to homeownership, the decision is more complex than it seems. Whether you should pay cash or finance your purchase with a mortgage depends on your financial situation, your long-term goals, and the housing market where you plan to buy.

A cash offer means you're using money you already have, with no need for approval from a lender. This can give you an edge in a competitive market, speed up the homebuying process, and save you thousands in closing costs and interest. On the other hand, taking out a mortgage allows you to keep more cash on hand for other priorities and potentially benefit from tax deductions and a stronger credit profile.

If you're thinking about buying a home with cash, you need to be ready with substantial liquid assets. In addition to the purchase price, you'll need to cover closing costs like legal fees and title insurance. The upside is you avoid lender-related fees and monthly mortgage payments. But just because you can pay in full doesn't mean you should. The money used for a home purchase could instead be invested elsewhere or reserved for future financial needs like college tuition, retirement, or emergencies.

Cash buyers also enjoy peace of mind in terms of speed. Without loan underwriting or bank red tape, the transaction can close more quickly. Sellers often favor cash offers because they remove uncertainty and reduce the chances of the deal falling through. When every listing in your target area is receiving multiple offers, a cash bid might be what sets yours apart.

The savings over time can also be significant. When you pay in cash, you're not just cutting out monthly principal and interest payments—you're also avoiding the interest altogether. For example, buying a $425,000 home with cash instead of financing $340,000 with a 30-year mortgage at 6.5 percent could save you more than $430,000 in interest alone over the life of the loan.

However, mortgages come with their own advantages. Taking out a home loan allows you to keep much of your capital free for other uses. You might prefer to invest those funds in assets with higher returns, or simply want to maintain a cushion of liquidity in case of job loss or major repairs. Plus, mortgage interest is often tax-deductible, which can help reduce your tax burden if you itemize. On-time mortgage payments can also boost your credit score, which is helpful for future borrowing.

The decision becomes more nuanced when you consider the full cost of financing. On a $400,000 home with a 20 percent down payment and a 7 percent interest rate, you could end up paying over $446,000 in interest over 30 years, bringing your total cost to more than $766,000. That doesn't include closing costs, which can tack on another 2 to 5 percent of the purchase price.

At the same time, a cash purchase that drains your savings might leave you financially exposed. You still have to pay property taxes, homeowners insurance, maintenance, and utilities—and you'll need an emergency fund for unexpected expenses. It's important to evaluate how much money you'll have left over after the purchase and whether it will be enough to meet your ongoing needs and goals.

Choosing between cash and a mortgage isn't just about dollars and cents. It's also about strategy and peace of mind. If you want to keep your money invested or available for other purposes, a mortgage might be the better choice A. If you're debt-averse or want to win a bidding war, paying in full could be the right move.

There is no one-size-fits-all answer. The best option comes down to what works for you—your finances, your market, and your priorities. Some buyers will find comfort in owning their home outright, while others would rather leverage their capital for long-term growth. In today's market, where mortgage rates remain elevated, the decision becomes even more personal. As housing analyst Jeff Ostrowski put it, what looks smart on paper may not always feel right in real life. And when it comes to where you live, both logic and emotion deserve a seat at the table.

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