Yesterday Kim and I went to the Edmond Board of Realtors luncheon at Oak Tree and were honored to hear Ted Jones speak about the market especially in Oklahoma! Ted has his PhD As a Chief Economist and works for Stewart Title. His talk was very interesting and educational! Here are just a few things that he shared with us:
There’s no place, but up…
- Interest rates are very low
- More jobs (+.26% in Oklahoma in last 12 months, OKC added almost 11,000 jobs this past year)
- Retail boom is just starting
- Residential owning vs. renting a home
- Entry level home buyers are returning
- Inflation potential
- Average Home prices have risen at 6% the past year.
- Oklahoma has the lowest unemployment rate than anyone else, except when oil goes down.
- Did you know realtors are one of the best sources of knowledge around?
- Global outlook in our market is strong!