Oklahoma City, OK - Local Housing Data - Summary

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Oklahoma City, OK Local News

  • 1Q14 Oklahoma City Housing Market Analysis

    The first-quarter analysis of the Oklahoma City housing market from Metrostudy data shows the market is still struggling with decreasing new and existing home closings, small rise in median new-home price, and a decline in the average household income for new-home buyers.

  • The Top 5 Big Cities for Buying Big Homes

    Where can both the active adult and entry-level buyer go in search of a spacious new-home without paying high prices in the country's biggest metros? BUILDER ranks the top five markets for the metropolitan new-home buyer seeking space, and the builders leading in each market.

  • Oklahoma City, OK - February 2014 - New Home Closings Figures Signal Market Decline is Slowing

    New home sales fell in Oklahoma City, OK in February. Real Estate Owned (REO) closings as a percentage of existing home closings rose, climbing 0.2% percentage points. Foreclosures as a percentage of existing home closings dropped, falling 1.7% percentage points. Mortgage amounts on new homes moved...

Prices of New Homes Climb in Oklahoma City, Sales Fall According to Latest Data

Posted on: Jul 06, 2014 07:26:59 AM

In the Oklahoma City, OK market, new home closings dropped year-over-year in March, but the percentage fall was less than that of February 2014, hinting that the market may be strengthening. New home closings saw a 8.2% drop from a year earlier to 334. This came on the heels of a 13.0% decline year-over-year in February.

A total of 3,953 new homes were sold during the 12 months that ended in March, down from 3,983 for the year that ended in February.

As a percentage of overall housing closings, new home closings represented 15.7% of overall housing closings. They made up 15.0% of closings a year earlier. For new and existing homes, closings sank in March after also declining in February year-over-year.

Pricing and Mortgage Trends

The average price of new homes rose year-over-year 4.8% in March to $244,085 per unit. This lift is higher than the 4.1% boost in February year-over-year.

For newly sold homes, the average mortgage size gained year-over-year along with new home prices. In March 2014, there was a 3.2% surge in the average mortgage size, reaching $211,009. In February 2014, average mortgage size increased 4.4% from a year earlier.

 
 
 

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