I really enjoy crunching numbers, however, the numbers I'm crunching today don't taste so good. First of all let me say I don't consider myself to be a negative person--I do consider myself to be a realist.

According to figures I pulled off our MLS site, closings in the OKC metro area are down 29% for June 1 thru today June 26 as compared to the same dates in 2007. Sales in Mustang are down almost 40%, in Yukon down over 32% and in Edmond down 29% compared to the same time last year, so it's not just one area, it seems to be across the board.

There is some good news though. Our median price is holding steady at about $130,000 and the average price for May was almost $158,000, UP over $11,000 from April of this year and UP over $6,000 from May, 2007.

So why the slowdown? Oh, I almost forgot. Our active listings are almost 10,000 which is huge for our market. I think people are scared. Scared of $4 gas $4 milk and $2.50 bread. The stock market is in freefall and our 401k's are shrinking big time. The talking heads keep telling us the sky is falling and maybe it is in some places.  Tightening of credit guidelines hasn't helped things and the fact my favorite lender is at 6.75% for 30yr FHA isn't helping either.

We keep hearing from the national and local media that things are good in the OKC market and comparatively speaking I believe that's true. This is home to Devon, Chesapeake and Sand Ridge Energy 3 really stong energy companies so the sky is not falling here. But I have to wonder---if this is good, what's it like in other areas? If this trend is true nationally, what does that mean? I don't think anyone really knows because this is uncharted territory. But hey, you know, it's a great time to buy a house!