Oklahoma City home sales end 2011 with a bang, not a bust
The strong jobs market and an average mortgage rate of 4.2 percent boosted sales throughout the second half of the year, according to statistics from the Oklahoma City Metro Association of Realtors.
Metro-area home sales ended 2011 on another up note, aided by an average mortgage interest rate brushing against 4 percent in December.
That's on average, meaning plenty of transactions were inked at less than 4 percent.
Realtors handled sales of 1,283 homes in December, an increase of 18.2 percent compared with December 2010, according to the Oklahoma City Metro Association of Realtors.
The average loan rate was 4.2 percent, which was 8.7 percent lower than the December before. Houses sold a full week faster, lingering on the market for 89 days on
Adjusted statistics for all of 2011 were not yet available from the
2011 sales up 7.5%
For the year, sales were up 7.5 percent, with 1,093 more houses sold in 2011 than in 2010, for a total of 15,618 transactions.
The year ended with a relatively healthy 5.7-month supply of houses listed for sale on the Multiple Listing Service, using the average monthly sales for the past year, 1,301.5, as a sales pace.
Using average monthly sales for just the past six months, 1,366.3, the estimated inventory of houses for sale at the end of 2011 would last 5.4 months if no more came on the market.
Business Photo Galleriesview all
- 21543Oklahoma tornadoes: The 'Big Dog,' the little boy and the hug that triumphs over tragedy
- 10852Oklahoma tornadoes: Woman meets the military officer who shared the clothes off his back
- 8707Oklahoma tornadoes: Thunder reverses the role, takes a turn at cheering on the community
- 8666Finding Addyson – One family's struggle in the Moore tornado
- 8648Hobby Lobby argues case before federal judges
- 7837Blake Shelton's "Healing the Heartland" televised tornado benefit set for Wednesday at Chesapeake Energy Arena
- 7718Story behind the photo: Family members describe desperate search for one another after EF5 twister