The Oklahoma Metro Association of Realtors reported Monday that
Oklahoma
home prices continue to rise. The average price in the
Oklahoma City
metro area for June was $164,727 - 6 percent higher than in June 2007.
The report continues to reinforce Realtor’s belief that the metro housing market remains healthy despite a national slump.
Not all of the news was good, though. Sales slowed almost 20 percent in June from a year earlier, yet prices continued to rise. Upscale homes here are selling much slower than they did during the boom years, partly because a higher percentage of down-payment required since credit underwriting has tightened. Less expensive homes sell much faster with houses under $100,000 selling within 30 days.
Across all price levels, the housing supply in the metro area now stands at 6.8 months, according to figures from the Realtors. |
