Categories: Blog | Posted: January 22, 2012 | Comments Off on All Signs Point to the Best Home Buying Market
It’s here! Probably the best time to buy a new home in a generation. Every day we see more and more encouraging news about the economy and housing market, both nationally and right here in Oklahoma City. Here is a sampling. Tulsaworld.com reports “Oklahoma City is ranked among the world’s top 100 metropolitan economies for income and employment growth during 2010 and 2011 according to a report released by Brookings Institution.” That’s the top 100 IN THE WORLD!
The Associated Press reports: “Unemployment Claims at Lowest Level Since 2008.” Applications fell by 50,000. The current level of claims indicates that hiring is strong enough to push down the overall unemployment rate. Oklahoma City metro area has one of the lowest unemployment rates in the country at 5.5%.
The Associated Press also recently reported: “Rate on 30-year mortgage down to record 3.88%.” That low rate is the lowest since 1950’s when records first began to be kept.
What does all this good news mean for the new home buyer? It’s time to buy! Home prices are stabilized and have most likely hit bottom. You are not likely to see lower home prices in a generation. Mortgage rates are at historic lows and the cost of financing a new home is not likely to ever be lower in our lifetime. And the OKC economy is currently strong with every expectation for continued steady growth. I welcome you to come out and visit one of our model homes and see for yourself the great value being offered and why it’s a great time to make a move to a new 4Corners home!