Oklahoma City: One of the Hottest Housing Markets in 2014
January 16, 2014
If you didn't know it, Oklahoma City is hot! Okay, okay so it's not the weather we are talking about. The Polar Vortex has passed right? According to CNN Money, we are one of the 5 housing markets to watch in 2014. Since the bubble never blew up in OKC, the housing market didn't drop too much either. After the housing market peak in 2009, Oklahoma City has only seen a 1% drop in overall real estate prices. This can be credited in part to nice jobs growth and a low unemployment rate, almost 2% below the national average, in our town. According to Trulia, about 75% of homes for sale in Oklahoma City are within reach of middle-income earners in America. Also according to Trulia, Construction permits relative to the average for the area since 1990 are being pulled at a rate of 142%. There was a 42% increase in 2013 on issued construction permits. Still not convinced? Forbes puts us on the list of best places to invest in real estate in 2014. If you've been contemplating a move to a new home, it's a great time to do it, and a great place to be. Last year's growth and momentum has put us on a fabulous path to homeownership. Oklahoma continues to prove why making a home here is a wonderful idea.