I just ran the stats for the Okc market and found that we have remain basically flat on prices the past 3 years. Certainly beats some places in the US that have seen as much as a 40% decrease. What we have seen is a great reduction in the number of homes sold. We are down 30% in actual number of homes sold and closed. It seems to be mainly in the new home and upscale market that has suffered the most.
As Realtors we need the number of homes sold to increase. I see no turn around anytime soon in this number. It looks like prices will hold but the number of sales will remain slow. Until we see a turn around in the finical market, jobs, and take home pay I really doubt if we will see much of an increase in home sales.
It is time for all of us to make the most with what we have.
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