OKC One Of Best Places To Buy A Home For The Holidays

Wednesday, December 8th 2010, 11:06 am
By: News 9


OKLAHOMA CITY -- Real estate experts have said although there are fewer houses on the market this time of year, winter may be the best time to buy a house. And Oklahoma City is one of the best places to purchase a new home.

Home buyers may get a better deal during the winter months because interest rates are typically lower, sellers are very motivated, and there's less competition from other buyers. But where people buy homes also makes a big difference.

Local Market Monitor, a real estate forecasting group, ranked the five best markets for prospective home buyers in 2011, and two cities in Oklahoma were near the top of the list. Oklahoma City was number two, followed by Tulsa at number three. The top market for buyers was San Diego-Carlsbad-San Marcos area in California.

The researchers at LMM placed Oklahoma City at number two because the average home price is $156,948 and expected to increase 1 percent in 2011. Researchers said in this dismal market, any increase in value is good news. Tulsa's average home price is $151,384 and expected to remain flat in the next year.

The five worst markets for housing are:

  1. Deltona-Daytona Beach-Ormond Beach, Fla.
  2. Lakeland-Winter Haven, Fla.
  3. Orlando-Kissimmee, Fla.
  4. Boise-Nampa, Idaho
  5. Reno-Sparks, Nev