YUKON REAL ESTATE MARKET REPORT January 2017
YUKON OK 73099
as of February 12, 2017
INFO THAT HITS US WHERE WE LIVE... Last week saw plenty of evidence that U.S. residential developers and builders are getting very optimistic. Housing Starts shot up 11.3% in December, reaching a 1.226 million unit annual rate. Yes, this month's bump all came from the multifamily side, but single family starts remain positive, up 3.9% the past year. And get this. Single family building permits are up 10.7% over a year ago, at their highest level since 2007, showing a continuing uptrend. Multifamily building permits are down 15.1% from a year ago, evidence of the shift to single family starts after multifamily construction peaked in 2015.
The optimism reflected in the starts and permits reports got further support from the National Association of Home Builders (NAHB). The NAHB builders confidence index hit an impressive 67 in January, just below its December reading, the highest in 11 years. Analysts say both builders and prospective home buyers are encouraged by the pickup in jobs and wage growth and by optimism (at least for now) that more market-friendly policies will be coming out of Washington. December's University of Michigan Consumer Sentiment report saw its Current Economic Conditions index at the highest point since 2004. Nice to see things looking up.
Some interesting data also came from the Mortgage Bankers Association (MBA) Builder Application Survey. To kick off the spring buying season, purchase mortgage applications for new homes shot up 24% in February. New single-family home sales, according to MBA estimates, ran at a seasonally adjusted annual rate of 544,000 units for the month, almost a 12% jump over February 2015. Purchase mortgage applications for all homes rose 4% for the week ending March 4, to their highest level since January. Fannie Mae's National Housing Survey reported that 63% of respondents believe it's a good time to buy a home. Now you know everything too.
BUSINESS TIP OF THE WEEK... There is absolutely no value in comparing yourself to others. Everyone's business grows differently. Why? Because everyone's different. Just keep doing your best.
- There are about 664 properties on the market in Yukon
- The median price per square foot for homes in Yukon is about $113
- The average property in Yukon has been on the market for about 141 days
- With a Market Action Index at 28.08 (MAI Index - over 30 indicated Seller Market; below 30 Buyers Market)
- The median single family home price for Yukon, OK is $215,644
So there you have it, my Dear Reader, YUKON REAL ESTATE MARKET REPORT January 2017.
Did you notice that the price per square foot is about the same as last month? However, the average price went up by approx. 2K. Houses stay on the market a little longer comparing to last month.
Also, we are in the buyer's market, which is reflected in MAI Index. Also the interest rates are on the upswing ... check below the rates:
Are you ready to make a move?
We will be happy to assist you, your family or friends with any real estate transaction.
Looking forward to hearing from you.
About the Author:
The above information was provided by Bo Kociuba a long time resident of Canadian County, Ok. As Broker’s Associate Bo helps people sell & buy homes in OKC Metro. She works together with her partner, Buster Elliott. They Live & Love OKC! .Bo and Buster are multi-million producers with over 50 years combined real estate experience.
Bo loves photography and is an avid supporter of shooting sports.
We serve OKC Metro Areas: Yukon, Mustang, Bethany, Piedmont, Tuttle, Blanchard, Edmond, Oklahoma City and Moore.
Join our newsletter: Live&LoveOKC!