Oklahoma City
’s home values continued their upward march in May, 2008. Low mortgage rates, a strong local economy and the usual springtime jump up in demand for houses apparently combined to push prices up again in
Oklahoma City
. The increase continued to keep
Oklahoma City
out of step with the country as a whole, with so many cities’ housing markets in retreat.
The median price in May was $132,000, an increase of 4.8 percent from April and an increase of 2 percent compared with May 2007.
The average price in May was $157,971, an increase of 7.8 percent from April and an increase of 4 percent compared with May 2007.
It still took longer, on average, to sell a house in May than it took the month before and the year before, according to local realtors – 78 days in May 2007, 83 days last April and 86 days this May. |
