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Home sales, construction end 2013 strong in Oklahoma City area

A slight slowdown in sales in November failed to tarnish the shine housing maintained for the rest of 2013, according to Oklahoma City area Realtors and builders.
by Richard Mize Modified: December 28, 2013 at 8:00 pm •  Published: December 28, 2013

Home sales tapered off in November across the metro area compared with November 2012, but this year will still go on the books as one of surging recovery.

Realtors handled 1,395 sales last month, a dip of 1.3 percent compared with November 2012, according to the Oklahoma City Metro Association of Realtors.

The month ended with 6,466 houses listed for sale, a supply of 4.6 months if November's sales pace persisted and no more houses were listed, the Realtors reported.

Edmond surpassed last year's numbers and broke annual records before December even started, Realtor Brian Preston said.

Through November, the Edmond market area saw 3,875 sales, which was 2.2 percent more than in all of 2012, said Preston, an agent with RE/MAX Associates Realtors.

“We came very close to passing the billion-dollar milestone, as well — just shy of $995 million,” he said in the introduction to his monthly Preston Report.

Preston noted that sales on the high end were especially strong, with 26 sales of homes for more than $500,000, with four of those for more than $1 million.

He expressed no concern over the pullback in November.

“November itself was down 25 sales from last November, only the second month this year to miss last year's mark,” Preston said. “I was surprised we matched October's super performance last year, so I am not surprised about November falling short.

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by Richard Mize
Real Estate Editor
Real estate editor Richard Mize has edited The Oklahoman's weekly residential real estate section and covered housing, commercial real estate, construction, development, finance and related business since 1999. From 1989 to 1999, he worked...
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