I’ve been saying it for a while, and the proof’s in the pudding… June was a HUGE month in Oklahoma City metro real estate. Believe it or not, we closed more homes June of 2009 than we did in June of 2008, and the median home price is even with last year, in a time when the majority of metro areas nationwide are experiencing falling values and plummeting sales.
Also notable, our absorption rate (inventory level by months) is way down over last month and last June. What does that mean? This ‘buyer’s market’ could quickly shift back to the advantage of the sellers, so don’t wait around for things to get better if you’re looking to buy.
Another thing for the home buyers to pay attention to is that interest rate statistic. While rates are still down 0.16% over this time last year, they’re up 0.20% just from last month.
About Ryan Hukill
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