The Enid News and Eagle, Enid, OK

Opinion

Discussion

Add a comment on this story
March 9, 2008

Enid’s real estate market is still strong and growing

While the drumbeat of recession is sounding stronger and stronger, it’s important for people to put things in perspective.

The nation — as a whole — has been enjoying a lucrative housing market for at least the last five years, and in some areas, prices of homes inflated to epic proportions.

What comes up that quick, usually falls just as quickly. That’s the main impetus behind national recession talk.

However, in Oklahoma, we have been somewhat fortunate in that while housing values have increased, they haven’t increased so dramatically a downturn is going to cause the same kind of crisis it has caused in coastal cities and major metropolitan areas.

Also, Oklahoma has done a better job of diversifying its economy. We are enjoying a thriving oil and gas industry, but the state has learned some lessons from the last oil boom and bust. We will experience fluctuations, just like other parts of the country, but the swings haven’t been so wide or dramatic.

When it comes to the housing market in northwest Oklahoma, we fortunately are seeing a trend in increased sales values, at least through 2007. The main markets in northwest Oklahoma have had some double-digit swings in home values over the last couple of years, but things have slowed down some. Still, it appears through 2007, our housing markets have been pretty solid.

We still have some major needs here in Enid and Garfield County. We know we have shortages in moderate-priced, quality housing, somewhere within the $80,000 to $125,000 range. We also know we are seeing some slight job growth that requires we have housing available in these very price ranges.

So, there definitely is opportunity for the positive housing sales trend to continue. That’s good news for Enid and northwest Oklahoma, and hopefully will help cushion recession worries for at least the next three to six months.

Text Only
Opinion
Featured Ads
AP Video
Former Komen Exec Defends Funding Cut Skip the Coffee Cup and Inhale Your Caffeine Fix Calif. Gay Marriage Ban Ruled Unconstitutional Jury Selection for Ex-UVa Athlete Enters 2nd Day Raw Video: Giants Celebrate Another Super Bowl Cab Driver Helps Wis. Family Escape House Fire Greek Leaders Seek Deal As Bankruptcy Looms Bernanke: Recovery Depends on Consumer Spending Staff Removed at LA School During Abuse Probe Eastwood in Super Bowl Ad 'Compassionate' Stranded Fishermen Rescued From Bay of Green Bay Analyst: Outside Troops Won't Intervene in Syria Police: Father Planned Deadly Fire for Some Time US, UK Pressure on Syria; More Homs Violence Raw Video: Mass Killer Wants Medal, Freedom Court Strips Contador of Tour De France Title Runaway Goat Leads Police on Wild Chase And the Winner for Best Super Bowl Ad Is... Romney Latest Poll to Join Let-me-explain Club
NDN Video
Model's Shocking 20-Inch Waist Entire staff removed at L.A. elementary school Huge baby shocks parents Exclusive: Giants Players Talk About Excitement Around 2012 Super Bowl Victory Parade Calif. Gay Marriage Ban Ruled Unconstitutional Trending: Bikini Bet Rihanna in Super Sheer Bodysuit 'Spider-Man' Brand-New Extended Trailer Beyonce Stuns in Tight Dress Giants City Hall ceremony Fox and Friends Interviews a Candy. Seriously. Powell's Voice Mail: 'I Am Not Able to Go On' Madonna's 2012 World Tour Car Crashes Into Restaurant Cat on Field Stops Soccer Match Gisele under fire for remarks after Patriots loss Motorcycle rider injured in circus accident Idol Contestant's Shocking Fall Gisele's Super Bowl Potty Mouth Inside look into Federal Air Marshal training
Seasonal Content
House Ads