The economy in Oklahoma City is outpacing the national level and that means good news for income and real estate growth in the area that boasts a population of just over a half million.

While job growth continues to move forward, the forecast is for the rate of growth to slow in the next year, however, an economic forecast written by economist Mark Snead from Oklahoma State University-Stillwater, shows continued growth in the housing sector.

Snead, the Director for the Center for Applied Economic Research and a research economist in the Spears School of Business says the word for housing is "resilient."

"The Oklahoma City construction market has hardly noticed the national building slowdown and should remain strong through 2009. Expect metro housing price gains to remain in the 2 to 4 percent range through 2009," he writes. The full report can be viewed online at http://economy.okstate.edu.

In the last three years, Oklahoma City homeowners have enjoyed value growth of 17 percent. In the last quarter of 2007, single-family home sale prices jumped more than 8 percent over the same period a year ago. Not only is it affordable, but the city is nationally ranked as an OK place to live. Forbes.com listed the city 19th in its Best City for Jobs list; and America's Promise Alliance rated the city in its 2008 list of 100 Best Communities for Young People, the third consecutive year for Oklahoma City to make that designation.

Published: March 7, 2008

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