Oklahoma home price changes have turned boring
A tick up here, a tick down there and pretty soon you're talking about — yawn — real home price appreciation.
We're going to have to get a new hobby, since following home price appreciation has gotten so boring.
Boring does mean stable. Not swinging widely. Unremarkable. Anyone wishing for another boom had better look to something else, around here anyway.
But talk about something to talk about. Since a house really is the biggest purchase most of us ever make, any change in the stats is potentially nerve-wracking.
So brace yourselves, but don't expect a West Coast earthquake in the latest numbers from the Federal Housing Finance Agency — not even one our little Oklahoma temblors.
The headline could be: Not much to see here.
Three months ago, I wrote:
“Oklahoma City's humming economy and the cheapest mortgage rates to ever hit the books hit the stats in the third quarter, landing the city in spot No. 23 for year-over-year home price appreciation.”
Here's the news: Oklahoma City's humming economy and the cheapest mortgage rates to ever hit the books hit the stats in the fourth quarter, landing the city in spot No. 64 for year-over-year home price appreciation.”
That drop in ranking had more to with housing recovery in other parts of the country, especially in volatile areas where a big collapse set the stage for a comeback (although none of the biggest losers has made up what it lost).
Three months ago: Prices perked up 0.84 percent for the third quarter and 2.57 percent since the third quarter of last year, according to the Federal Housing Finance Agency's All Transactions House Price Index, which includes purchases and refinancing.