The Norman Transcript

Opinion

September 11, 2013

Home sales improve in Norman market

NORMAN — The missing piece of the national economic recovery has been housing growth. Many parts of America have been “underwater” in mortgages with high rates of foreclosures for many years.

Oklahoma escaped much of the problems. Since we learned our lesson in the oil bust years, we haven’t had rapid increases or decreases in property values. Lenders got better at what they did, too.

A mid-year report on housing from the Norman Board of Realtors showed that the number of houses sold in July were up more than 34 percent over the previous year. Realtors closed 325 sales in July compared to 242 in July 2012. Year to date, 1,604 home sales closed compared to 1,365 for the first seven months of 2012.

The report was distributed at the Norman Chamber of Commerce board meeting this week. Chamber chairman Andy Sherrer called the report a positive economic sign.

The dollar amount has increased, too. July closings totaled $55.82 million compared to $36.33 million a year earlier. Through July, year-to-date closings totaled $272.48 million compared to $216.70 million from January through July 2012.

Homes are selling a bit faster, too. The average number of days on the market was down nearly 16 percent, from 101 days to 85 days. The supply of homes is down to about 1,000 units, and the average Norman home sales price through July is up 7 percent to $169,873.

1
Text Only | Photo Reprints
Opinion
  • Norman should act wisely

    Editor, The Transcript: The fact that the city of Norman sells water for oil/gas drilling (or any other purpose) for less than half what they pay Oklahoma City when buying water, and while Norman residents are on rationing, is an act of ...

    April 18, 2014

  • There’s no need to fix system that’s working

    Lawmaker attempts to alter the way judges are selected are being challenged by the state’s lawyers. More than 1,800 signatures on a state bar association petition urging a “no” vote on Senate Joint Resolution 21 have been gathered in just ...

    April 18, 2014

  • On the side of openness

    Oklahoma Gov. Mary Fallin has been criticized for failing to release emails and other information sought by press outlets who believe it was covered under the state’s Open Records Act. Now, Fallin is coming down on the side of keeping the ...

    April 18, 2014

  • A raise for troopers, but what about others?

    Oklahoma Highway Patrol troopers could see an increase in their paychecks during the state’s next fiscal year, which begins in July....

    April 17, 2014

  • Fallin should help residents

    Editor, The Transcript: I see this week that our empty skirt of a governor asked the federal government (small business administration) for much money. She is concerned about the suffering of the business owners in Lexington and Purcell ...

    April 17, 2014

  • Top honors for NPS

    Top honors keep rolling in for both of Norman’s high schools. The district learned this past week that Norman High School and Norman North High School have been recognized as two of the most rigorous high schools in the country and in the ...

    April 16, 2014

  • Wind power bursting

    There are a few wind generators dotting the Norman skyline, but western and northwestern Oklahoma makes up for the deficit here. An industry group this week said Oklahoma ranks fourth nationally in the amount of wind-generated ...

    April 16, 2014

  • First, do no harm — to your bank account

    After being sued by the Wall Street Journal, the government finally released its Medicare reimbursement data last week. It included the less-than-stunning revelation that 28 of the 100 doctors who received the largest payments in 2012 were ...

    April 15, 2014

  • Reading between the lines

    Reading is such an improbable idea — a miracle, really. Yet simple squiggles on a page, arranged just so, can convey ideas that change the way we think or introduce to us characters we love for a lifetime. In celebration of reading — and ...

    April 15, 2014

  • CCFI tackling area’s child abuse problem

    Editor, The Transcript: To those of you who are reading this editorial, I assume you care or at least are entertained by the opinions of others. It is my hope and desire that when you read this editorial, you will care about the facts. ...

    April 12, 2014