The global economy may be on the decline, but St. Tammany Parish realtors say the parish’s housing market is not as bad as some think.

Sure, it’s at a crawl with a robust inventory of homes on the market, but that’s only partly due to the falling economy, Gail Ross with Remax Real Estate Partners said.

“Part of it is the market, but part of it is also the time of year,” Ross said. It’s typical at this time of year for the housing market, along with other industries, to slow, Ross said.

“Everyone’s back at school and getting ready for the holidays,” she said.

Time of year or not, it’s still slow, realtor Debbie Vititoe with Keller Williams Reality Professionals said.

Covering most of the parish, Vititoe’s personal home sales have declined significantly over the last several years, beginning post Katrina when she sold 90 houses in 2006. Last year she sold 66 houses, and this year she’s hoping to sell at least 30 homes.

“Nothing right now is moving,” she said. “People are afraid of the stock market.”

Homes are averaging $200,000, said Vititoe, who currently has 50 listings for sale. But she believes the selling slump has reached its valley with only one direction to go from here.

“We’re expecting interest rates to drop, freeing more money for people,” Vititoe said, adding the rates are hovering around 6 percent right now. “We have a lot of inventory on the market, but I think once we have the interest rates come down, you’ll see a lot more people buying houses.”

There’s more to it than interest rates, mortgage loan consultant Jeannine Clesi with Statewide Bank said.

Clesi believes the recent government involvement to rescue housing finance giants Fannie Mae and Freddie Mac was a direct result of the lack of lending restrictions.

“The guidelines for lending have tightened up,” Clesi said. “Now certain credit scores are required, the purchaser has to show strong documentation of proof of income, and he will have to put some money down on the loan.”

The stricter lending guidelines have caused the housing market to slow because potential homeowners are finding it more difficult to get a loan, Clesi said.

Even with credit scores carrying more weight, Clesi said prospective homebuyers shouldn’t get discouraged from applying for loans.

“We can still work with them and show them how to improve their credit score,” she said.

Although it’s very specific for each case, Clesi said individuals can take certain steps to better their scores.

“I tell my customers if they have credit card debt or any other debt, be sure and make their payments on time,” she said.

Maxing out credit cards can also lead to financial woes, Clesi said, suggesting cardholders request a higher credit limit to maintain a 60 percent capacity on the card.

“I’ve heard that on average, Americans carry nine credit cards. That’s insane,” Clesi said. “You shouldn’t have that many, but you should try and maintain several because it shows the ability to pay off debt, which ultimately improves your credit.”

There is good news. With the abundance of homes on the market, most realtors agree now is the time to buy a home.

“Because there’s so many houses to choose from, you can negotiate your price,” Vititoe said. “I’ve got builders right now sitting on newly constructed homes waiting to sell them.”

Real estate agencies like Coldwell Banker TEC Realtors are taking their own steps to stimulate the market by implementing programs that reduce selling prices.

The most recent is a 10-day national sales event from Oct. 10-19 where home prices will be lowered by up to 10 percent.

Even with the negative market, buying a home is still worth it.

“It’s still the safest, securest and overall best investment an individual can make today,” Clesi said.