Housing News For November

Have you noticed there has been a lot of news lately about a decline in foreclosures. Sunday, November 18, 2012 noted foreclosures have declined 35% from last year. RealtyTrac, Inc. reported there were 577 foreclosures filed in the Tulsa area in October. Other good news in the housing industry includes a statement made on October 25th from the Commerce Department which said new home sales rose nationally at a rate of 5.7% in September. Meanwhile in the Tulsa market, the Homebuilder’s Association of Greater Tulsa stated there were 177 home starts last month. That number is almost 25% ahead of October 2011. From January to October there have been 1,933 new home starts which is 30% ahead of the same period in 2011. Can  increases in house prices be far behind? On November 7th, the company CoreLogic that home prices increased 5% in September comparing that to the previous year. This was the largest year-to-year increase since  July 2006.

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