Strong Oklahoma home values praisedPublished: Wednesday, January 21, 2009 7:00 am By: Richard Mize
Oklahoma City and Tulsa remain among the nation's Top 25 strongest housing markets despite the slowdown and recent price weakening, Forbes.com said this week.
It's relatively good news when, as the business news Web site reported, "not one metro area will see prices increase before the end of this year." Forbes projected home values to drop 1.1 percent in Tulsa and 2.8 percent in Oklahoma City this year.
It's the second time in less than a year Forbes.com has spotlighted Oklahoma for economic strength. In May, Forbes called Oklahoma City the most "recession-proof" city in the country, based on its relatively sturdy housing and energy sectors.
"It's a good dose of B-12 going into what I'm sure will be a very somber session of. . .board meetings and seminars this week at the International Builders Show (in Las Vegas)," said Jeff Click, president of the Central Oklahoma Home Builders Association.
Judy Lindsay, president of the Oklahoma City Metro Association of Realtors, said Oklahoma City values won't slump much because they didn't boom much. "It also stands to reason that due to the economic conditions that have developed not only nationally, but internationally, even a market like ours will see some mild decreases in property values in 2009," she said.