Thursday, August 9, 2007
Oklahoma City Housing Expectations
Rises in mortgage and interest rates in the past couple of years have caused the recent slow down in the housing market. Nevertheless, the Oklahoma City area is outperforming many largers cities where homes are losing value, and the Metros's market is at the very least consistent in its affordability compared to other markets. Most experts contend that the home builders are not getting ahead of the somewhat reduced demand, a situation that would cause excess inventory.The fact that Oklahoma City is expanding due to the growth in downtown and the gains in various business sectors figures to help the market, and rates are still at relative lows, despite their recent increases.That leads many economic experts to believe that Oklahoma City's housing market is fairly healthy.