Market expert Robin Smith reports the housing market in North Central Oklahoma has stayed in an upward direction, and real estate in the Ponca City area continues to be one of the country's best values.

Conditions are expected to continue to improve for the next quarter, she says, especially given this is the busy time of year for the real estate industry.

So what's behind this local market's strength?

Smith says that for the entire state of Oklahoma, the average sales price of an existing home rose last year by 4.24 percent, while the number of foreclosures filed in the state declined by nearly 13 percent.

And she's not too worried about this market's future, despite the much-discussed recession.

The worst case scenario is that Oklahoma job growth may stall during the second and third quarters of this year, Smith says.

But the stable housing sector and high energy prices are expected to allow the state to enjoy very modest economic growth.

For more information on this market contact Robin Smith at:
RobinSmithRealtor.com.

Published: May 5, 2008

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