GTAR Celebrates Stability in Local Housing
Market, Launches “Good Thing You’re in Tulsa”
Campaign
(Press Release written by Waller & Company Public Relations - November 15, 2007)
The Greater Tulsa Association of REALTORS® debuts its “Good Thing You’re in Tulsa”
campaign today to potential home buyers and sellers to emphasize Tulsa’s strength in
the housing market despite the recent mortgage crisis affecting cities nationwide.
Tulsa’s year-to-date average sales price and the median sales price are up more than 5 percent despite a slowdown in total home sales during September, according to the Northeast Oklahoma Real Estate Services (NORES) multiple listing service data.
“Although the total number of closings in September was about 18 percent below September 2006, sales figures are only 3 percent behind the record-setting pace we experienced in the first nine months of last year,” said Ron Sumner, president of GTAR. “Overall, Tulsa’s housing market remains steady, and we want people to realize that.”
Sumner said GTAR developed the “Good Thing You’re in Tulsa” campaign to communicate this positive news to area residents who may be seeing negative stories about the national housing market. GTAR’s awareness campaign will continue through next year as GTAR members distribute yard signs, banners and vehicle stickers with the campaign logo in Tulsa and surrounding communities. Information about the campaign and the Tulsa area’s real estate market also is available at www.tulsarealtors.com.
“Homes sales are down in some parts of the country, but the Tulsa area market is strong,” Sumner said. “Our home prices are up, foreclosures are down from 2006, and we’re working to close the gap on the number of year-to-date residential closings.”
An April Money magazine study of the nation’s 100 largest markets ranked Tulsa second in home appreciation values with a projected 4.3 percent inflation. Even with increasing home values, the city’s average home price of $153,750 ranks far below the national average of $422,343, Sumner said.
