One, both the average and median price of homes sold in the metro area fell significantly in November. The average dropped 12 percent to $136,198 and the median dropped 10.4 percent to $116,000, compared with October.

Sales were off 27 percent from October, which is one thing, since sales always slow heading into winter, but they were off 30 percent compared with November 2007 — and that was a big, bad surprise for everybody, since we’d skirted the housing crisis in this country for so long.

We’re still skirting the worst of the housing crisis.

Home prices dropped hard last month, which only matters if you’re buying or selling. My house not being on the market, I’m not losing much sleep over it. Much of the rest of the country has been dealing with plummeting prices — freefalling values — for a long time.

Two, one way to tell a "bubble,” at least a little one, was over our market is by looking at that second syllable — "ble,” pronounced "bull” — and noticing how bull is conspicuously absent from the marketplace now.

Bragging about Oklahoma City being "recession proof” is so last month, especially with oil prices, gulp, skidding to the mid-$30s.

Page 1 of 2

12Next

Show / Hide Comments

Business Photo Galleriesview all

FedEx drivers deliver holiday cheer

Monday was expected to be the busiest day for FedEx, which said it...

8 photos

Pelco transmission pole manufacturing

Photos from Oklahoma company Pelco which specializes in the...

25 photos

Washington official tours OKC Hispanic grocery

U.S. Small Business Administration Deputy Administrator Marie Johns...

14 photos

100 Years of Chevy

Images of iconic Chevy cars and trucks from their 100 years in the...

45 photos

Page 1 of 5

Prev 1 2 3 4 5 Next