Oklahoma Fights Depressing Housing News

by Simon Lindsay on States

In an effort to drown the negative housing news circulated by the national media, the Oklahoma Association of Realtors (OAR) decided to launch an awareness campaign. The said campaign hopes to inform the public that the state’s housing market is actually doing good. In fact, Oklahoma experienced a 4.2 percent growth in home values and total sales in 2007 remain to be the highest in the state’s history.

You will find that homes are not as expensive in Oklahoma compared to other states. Tulsa home prices are at $155,036 while Oklahoma City homes are sold at $151,128. And because only a small percentage of the Oklahoma properties were bought under subprime mortgages and more than half of the homes in the state have fixed-rate mortgages, the number of foreclosures was kept at a minimum. As you know, many experts believe that high foreclosures rate can have a negative impact on a home’s market value.

Aside from this, another reason why Oklahoma successfully side-stepped the foreclosure crisis is its thriving economy. Several areas in the state have seen significant growth in employment. In the western region of the state, new manufacturing plants have emerged, offering more job opportunities. Because of this, home sales have improved.

In addition to giving Oklahoma locals something to smile about, the campaign has also boosted both buyer and seller confidence. The OAR plans to continue with their campaign through June and hopes that end-results will be positive.

If you are interested in buying a real estate property in Oklahoma, now is the best time. Aside from brand new and existing homes, there is also a nice selection of foreclosed properties, which are sold at a relatively cheaper price. Check out foreclosure listings offered by Bank Foreclosures Sale to enjoy hot leads.