View Full Version : OKC home prices rise

11-29-2007, 11:57 AM
Oklahoma City, Tulsa home prices rise as national average falls
By Richard Mize
Real Estate Editor (DOK)

Buyer’s market or not, home buyers are still paying more for houses in Oklahoma City and Tulsa, not less, according to the Office of Federal Housing Enterprise Oversight, which reported the state’s two biggest cities as out of step with the country as a whole. Oklahoma is marching to its own drum — one full of oil, thanks to the state’s thriving energy business. It’s good news at a bleak time for the nation’s homeowners and Realtors, lenders, builders and others who make their living in the single-family housing business.

The federal agency reported Thursday that home prices nationally fell for the first time in 13 years — 0.4 percent in the third quarter compared with the second quarter. Nationally, prices continued to inch up year to year — 1.8 percent in the third quarter, the slowest growth since 1995, compared with the third quarter of 2006. Oklahoma City prices increased 2.39 percent quarter to quarter — a pleasant surprise since prices seemed to be trending down at the end of the second quarter, when prices increased a tiny 0.01 percent from the quarter before.

On the year, Oklahoma City prices increased 4.7 percent, from the third quarter of 2006 to the third quarter of this year. Tulsa prices increased 2.02 percent on the quarter and 6.01 percent on the year, according to the Office of Federal Housing Enterprise Oversight.