Oklahoma’s real estate industry is slowing down, but not to the point where the state could lose its title to become the leader in the nation in new listings, according to a new report.
Oklahoma’s median price for a home has fallen by more than 2 percent since last September, while the number of new listings on the state’s market fell nearly 13 percent from a year earlier.
The number of transactions in Oklahoma rose by just more than 9 percent last month, the report from the Center for Real Estate Research and Applications at Oklahoma State University said.
The pace of new transactions in the state has been flat since January, according the report.
The Oklahoma City metro area, the state capital, is the most expensive area in the country for new listings and the median price has fallen below $200,000.
But in the Tulsa metro area the median sale price for homes sold last month was just over $200 of the $250,000 threshold.
In the Tulsa area, where many of the homes are located, the median home price for the year is just over half of the median of $300,000 for the metro area.
Tulsa has the lowest number of home sales per capita in the U.S., at 1.7.
The metro area’s median home sales price is just under half of Oklahoma City’s median, according data from Zillow.
Oklahomans have been spending more money on real estate in recent years, according, and sales have remained flat over the last few years.
But many Oklahomians are feeling a pinch of the Bern.
The median home sale price in the metro region last month fell nearly 11 percent from the year before.
Oklahoma City home sales are down more than half a percent from last year, the largest drop in the region, according Zillower.
In Tulsa, the metro areas median home purchase price has dropped 9.3 percent.
Okla’s real-estate market is being hit harder by the Great Recession, and the state is one of the only places where inflation is higher than the national average, according Chris Smith, president of Oklahoma Real Estate Advisors.
Real-estate agents are seeing an increase in the number and size of sales, and they’re seeing less interest in properties, Smith said.
Smith said Oklahoma is still ahead of the rest of the nation.
In some cases, Oklahoma’s population has grown more quickly than its population has declined.
In 2010, the population of Oklahoma was 6.9 million, compared to 7.2 million in 2014.
Oklahoma has the second-highest population in the entire country.
Smith also said there’s a lack of confidence in the market, which has been one of Oklahoma’s top priorities.
The state is seeing a lot of demand for property, he said.
Oklahoma is a high-demand place for people, and it has an enormous number of properties.
It has an unbelievable amount of real estate available, and people want to sell their properties and move here.
If there is any sign that Oklahoma’s economy is slowing, it’s going to be when people are buying more homes, not less.