There’s a mantra that I regularly find myself reminding people of in our area, and it goes something like this; “Real Estate is local, local, local.”
The purpose is to remind people that our local real estate market is typically VERY different from the real estate market they’re hearing about on TV.
RISMEDIA’s recent article outlining “5 States Where Housing Is Predicted to Recover the Quickest” reinforced this premise:
Housing will rebound moderately in 2011, economists at the International Building Show here are predicting, and should gain even more steam in 2012. But the recovery in home building and home sales will vary widely from one part of the country to another…
They went on to point out some of the things that got Oklahoma on this list:
- Home prices in the Sooner State fell just 2.3% from peak to trough
- mortgage delinquencies are 2.9%
- Unemployment is 6.9%
So, remember to keep your head clear of the doom & gloom that the national media is reporting, and get the local numbers before making a decision in regard to your next move.
About Ryan Hukill
Hope you're right Ryan!