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Sales from VA Homes List and Other Residential Property Listings Fell

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By : John Cutts    99 or more times read
Sales of properties from VA homes list and other residential property listings declined in 2010 in Oklahoma City, Oklahoma. Last year marked the third consecutive 12-month period that sales of dwellings have dropped in the city. The Metro Association of Realtors reported that sales fell by over 6% last year compared with 2009 levels.

There were 14,524 housing sales transactions made in 2010, including non-foreclosed and foreclosure homes in Oklahoma City. The transactions had an accumulated worth of $2.23 billion, as reported by the Metro Association of Realtors. The figure represents a 6.1% decline from the 2009 total worth of $2.37 billion for 16,038 housing units sold for that year. Compared with 2008, the drop was 5.4%. A total of 16,388 residential units was sold in the city in 2008 for an accumulated worth of $2.51 billion.

The number of non-foreclosed and foreclosed homes for sale in Oklahoma that were purchased by buyers started declining in 2008 in most areas of the state. In Oklahoma City, 2007 figures showed that 19,641 housing units were sold, equivalent to a net worth of $2.96 billion. The 2008 sales figure represented a drop of 15.2% when compared with 2007 levels.

The peak of housing sales in the city was recorded in 2005, when over 20,360 housing units were sold, including regular dwellings and those under VA homes list and other residential listings. Despite three consecutive years of sales decline, realtors are optimistic that 2011 will be a better time for the city's home sellers.

Data for last year showed that buyers of non-foreclosed and home foreclosures were highly active during the March-April period, mainly because the initial deadline of the tax credit program was April 30 and majority of homebuyers were trying to secure transactions before the tax credit offer ends. Sales started dropping in July, were revitalized in August, declined once more in the succeeding months and improved again in December, according to realtors.

Most local realtors believe that improved interests in properties under VA homes list and other residential property listings in December were prompted by low interest rates. They added that those who waited for a further interest rate decline probably realized that the opposite will be happening in 2011.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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