The Oklahoma City real estate market is always a steady as she goes type of a market that normally is balanced but this year we saw a strong increase in the number of homes for sale. This happened primarily in existing homes because we are way behind demand on new home starts. Overall inventory of sale homes shows a 20% increase but pending sales are keeping up. People might think that a big inventory increase is a negative but first consumer confidence is very high and that puts more houses on the market. Second the rapid rise in energy prices, the big increase in aerospace jobs like with Boeing, and companies like Amazon creating it's regional presence here because of the favorable business and tax climate also creates movement. With Oklahoma City being the dominate job market for increases in jobs and salary for Oklahoma the population of the metro area has grown to 1.373 million and the job increase this year of 8.5% over last year. If you are a buyer for a home to live in or an investor looking for positive cash flow and a great return, please contact us at joe@joepryor.com.
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