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Oklahoma Number 1 in Home Price Appreciation

Here we are again at the top of the list.  The Office of Federal Housing Oversight (OFHEO) has placed Oklahoma at the top of the list in home price appreciation through the second quarter of this year according to OFHEO's seasonally-adjusted purchase-only house price index.  The index, which is based on data from home sales, was 1.4 percent lower on a seasonally-adjusted basis in the second quarter than in the first quarter (Nationwide).  This decline was less steep than the 1.7 percent decline in the prior quarter. Over the past year, prices fell 4.8 percent between the second quarter of 2007 and the second quarter of 2008. The decline is the largest in the purchase-only index's 17-year history, but is much smaller than those of other indexes. 

Here's the kicker Oklahoma's appreciation for one year was reported as 4.93%.   For those who care to read the release you can find it at this link > OFHEO.  Again for Oklahoma its the same good news / bad news.  This state has not had a real estate "bubble" and has only appreciated at around 4% for the last few years.  That's the bad news.  The good news:  We continue to appreciate at 4%.  Also it was reported locally in the Tulsa World, according to Realty Trac, US foreclosures were 1 in 464 households in July.  Oklahoma was 1 in 930 households or to make the comparison - about half of the nation wide rate.