Oklahoma is OK!

OK, so I kind of took that line from the play, "Oklahoma!". But it's the truth, especially in these times of attention-grabbing headlines about rising foreclosures and falling home prices. As Realtors and investors have always known, all real estate is local. So now the secret is out: just because the East and West coasts and some other high cost areas have seen huge decreases in prices of late does not mean that the whole US real estate market is taking a nosedive. Quite the contrary is true! In the state of Oklahoma, home values have increased by 4.2 percent in 2007, nearly as strong as our record years in 2005 and 2006. And in the Oklahoma City metropolitan area, home values have increased by 4.68 percent in 2007. And this is the fifth year in a row that the average home price has risen. Now I don't call that any kind of collapse in our real estate market. So, Okies, stand up and be proud...and go out and buy a home! Owning a home is still the best financial investment you can make, especially here in Oklahoma.

Home value increase amounts taken from Oklahoma City Metropolitan Association of Realtors Newsletter, April 2008.