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Oklahoma City home sales not stopped by end of federal tax credit

When the federal tax credits for homebuyers ended April 30, it stopped home sales dead in their tracks in some parts of the country — but not in Oklahoma City, although sales here did fall off some Published: August 22, 2010

On the building side of the market, construction has been rebounding from 2009 levels all year.

In Oklahoma City proper, the 1,313 single-family permits issued through June was a 25.3 percent increase from the first half of 2009. In the metro area — Oklahoma City, Edmond, Midwest City, Moore and Norman — the 1,878 permits issued through June represented a 21.3 percent increase.

"We're experiencing a lot of people getting out again and wanting to buy," said builder Steve Allen of Allenton Homes & Development. "We've had a great last couple of months."

Allen builds in two distinct price ranges $200,000 to $300,000, and $500,000 and up. Most of the buying activity now, he said, with the tax credits over, is in the $200,000 to $300,000 range, where move-up buyers who sold homes to first-time buyers using the credits are landing.