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Oklahoma tornadoes: Homebuilding, sales rise on good news and bad news

by Richard Mize Modified: January 24, 2014 at 11:00 am •  Published: January 23, 2014

Home sales and construction in the metro area grew most of 2013, boosted by the healthy local economy and the tragedy of May's tornadoes.

Oklahoma City, Edmond, Midwest City, Moore and Norman together issued 5,438 single-family building permits, an increase of 16 percent compared with 2012, according to the Central Oklahoma Home Builders Association.

Moore saw the greatest increase, 183 percent, owing to rebuilding from the May 20 tornado, and Midwest City had the only decrease, 29.8 percent. Norman was virtually flat with an increase of 0.2 percent.

Permits were up 9 percent in Oklahoma City, 6.9 percent in Edmond, the builders reported.

Edmond's record sales

Sales for the year have not been tallied for the metro area, but Edmond had a record-breaking year, said Brian Preston, an agent with RE/MAX Associates Realtors, 1900 E 15th St., Building 500.

Preston said the Edmond market, including Deer Creek, had more than $1 billion in sales for the first time: $1,067,494,151 for 4,149 home sales, topping the 2012 record of 3,790 by 9.4 percent.

“The last milestone was an easy one. The average sales price in Edmond jumped to $257,290. This is the first time we have been over the $250,000 mark. Last year we were only shy by $200,” Preston said. “2013 was a great year for Edmond Real Estate. To have three big milestones hit in one year is virtually unheard of. It may be a while before we break records on this level again.”

Moore is rebuilding

Moore issued 682 single-family building permits last year, almost three times the 241 issued in 2012, according to the Central Oklahoma Home Builders Association.

“We're building on a lot of tornado sites for the owners, and we have quite a bit of production going into our subdivisions,” said builder-developer Marvin Haworth of Marvin Haworth Homes in Moore.

Haworth said about 30 percent of the homes he is building in The Willows addition at SW 34 and Telephone Road and in Seiter Farms at SE 38 and Sunnylane Road are for people who decided not to rebuild where the tornado destroyed their homes.

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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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