Oklahoma Home Values Increase by 4.24 Percent in 2007
OKLAHOMA CITY, Oklahoma, February 13, 2008 — Home values in Oklahoma increased in 2007 for the seventh consecutive year, according to a report released today by the Oklahoma Association of REALTORS.
The average sale price for an existing home in Oklahoma rose by 4.24 percent last year, from $143,669 in 2006 to $149,758 in 2007.
In 2007, there were 52,170 sales of existing homes in Oklahoma. While that figure represents a decrease of 3.16 percent from the state’s record home sales figure in 2006, the 2007 sales number reflects the third highest year on record for home sales in Oklahoma.
“While the housing industry in some parts of the country is facing some serious challenges, today’s report underscores the fact that home ownership in Oklahoma continues to be an affordable, stable and secure investment,” said Tammy McCullar, OAR president. “Homeowners across the state should be confident about the value of their homes, given that 2007 marked the seventh year in a row in which home values in Oklahoma appreciated.”
Since 2000, the average sale price of an existing home in Oklahoma has risen by an average of 4.88 percent per year. The median price for an existing home in Oklahoma in 2007 reflects almost a 40 percent increase from the 2000 median price for an existing home of $107,303.
February 12th, 2008 by Randy Eagar
This entry was posted on Tuesday, February 12th, 2008 at 4:25 pm and is filed under Seminars. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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May 13th, 2008 at 10:48 am
I am currently looking at North Texas and Oklahoma for single family homes as a 5 year investment. Does anyone know if the rents support the payment with a 20% down payment using standard interest rates? Jim Aldrich