Oklahoma City real estate market dodges nationwide slump
2008-09-05 03:05:12 (GMT) (Caymanmama.com - Real Estate News News)Altus, Oklahoma (CaymanMama.com) — Realtors nationwide are biting their fingernails down to the quick wondering if the housing slump will ever release the gloom and doom. However, according to a recent report on OCKBusiness.com, the distressed major housing markets from coast to coast has escaped the Oklahoma City area as home values there continue to appreciate by a steady 4 percent a year.
The report states, “Although Central Oklahoma home sales and home construction are both off about 17 percent from 2007 levels, there is much better news than bad. Even an economy flushed with rumor has had little impact on the Sooner State.” The month of June is a typical 30 day festivity fest full of wedding ceremonies and commencement events and is typically a high time for home builders and sellers.
The good news for new homebuyers is that starter homes are plentiful as is the job market in the Oklahoma City area as well as all over Oklahoma. Unemployment is a major factor in spendable prospects for home buyers. Although the unemployment rate did raise, it remained below the national average.
Dawn Kennedy, CEO of the Oklahoma City Metropolitan Association of Realtors said, “There are a lot of crashing markets out there, but not here. Oklahoma still has one of the nation’s lowest unemployment rates. And we have so many starter homes that are available to help our young people realize their dreams of owning their own home.”
Buyers should feel confident buying in Oklahoma due to the overall stability. Kennedy also noted that properties in the OKC metropolis typically sell in fewer than three months at nearly 100 percent of the list price. This is a promising factor as the inventory of starter homes in Oklahoma is vast and there is certainly one tailored to each and every personal who wants to achieve their dream of owning their own home.
Contributor: http://www.sherylhomesinc.com - Altus, Oklahoma New Home Builder
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