While economic statistics may not be perfect here in Oklahoma, there are still plenty great things to hang our hats on, such as the good ole’ housing market. Check out Richard Mize’s latest assessment/report of where we’ve been and where we are, and keep these things in mind as you decide whether or not buying a home or selling your home are the right moves for you right now.

As the sun sets on 2009, and we usher in 2010, now seems to be an appropriate time to reflect and project.

One of the comments I often hear from folks who move to Oklahoma from other parts of the country is how amazing the sunrises and sunsets are here. With that in mind, I thought I’d share a great video that a friend of mine, Brad Stone, created, which shows off those amazing sunsets that we Okies often take for granted.

2009 brought great growth for the Hukill Group, even in this (reported) “down market.” We experienced an increase in overall volume of more than 50% and brought on 3 amazing, cream-of-the-crop new partners during the year.

Looking ahead to 2010, we’ve set ourselves a pretty lofty goal of twice the volume we closed in 2009. Yep, that’s right, I said double. That should tell you something about our confidence level in the Oklahoma City real estate market and in the level of service we provide our clients. You’ll also notice a BIG change in our branding for 2010, as we’re changing the name of the Hukill Group and launching a more memorable branding presence (watch for the unveiling during the first quarter).

So, get ready Oklahoma City. 2010 is going to be a big year and we’re ready to take it on, and serve you, as our City continues to grow and outpace most other metro areas, in more ways than one!

So, it’s not just us local yokels singing the praises of the Oklahoma City metro real estate market. Even the Federal Housing Finance Agency has joined in on the party.

With both Tulsa and Oklahoma city ranked highly, I’ll continue to say there’s plenty to be confident about here, in Oklahoma.

In case you missed it last month, Forbes ranked Oklahoma City as one of the top cities for quick economic recovery, citing diversified industry and relatively stable housing fundamentals as the main factors.

In my latest video blog from the Fenwick addition park in Edmond, OK, I hit on the truth of what’s going on on the Central Oklahoma and national real estate scenes. You can see the actual statistics that I reference in the video and leave a comment here to voice your opinion on this topic.

I’ve got some hardcore analysis coming in a few days, but if you haven’t seen the latest real estate sales statistics for the OKC Metro, you should take a look.

At first glance, here are the things that jump out at me most:

• The obvious one; home sales are up 22% over this time last year
• Average sales price is down almost 8.5% over this time last year
• We’re down to almost a 5-month inventory (guess when that last happened)

How’d you like to see an analysis of sales broken down by price range? Stay tuned!

More kudos for our local economy were published by MSN.com recently. Low unemployment, continued improvement & growth in our city, and affordable living seem to be the common thread through all of these stories.

More props for the OKC area economy came shining through earlier this week as the labor department released the latest unemployment numbers:

The Oklahoma City metro area’s September jobless rate of 5.9 percent was the lowest in the nation for large cities with a population of 1 million or more

Whether the predictions are from local folks with a great understanding of the central Oklahoma market, or national folks with an in-depth understanding of things happening across the US, the fact is, today’s roller-coaster that is the real estate business has most of us playing a bit of a guessing game.

• How will the expiration of the Tax Credit affect the economic recovery?
• Has housing hit bottom and/or has recovery truly begun?
• Is now the right time for me to buy/sell?

All valid questions indeed, and chances are good that you’ll get a different answer from each person you ask. Additionally, the answer to the third question is unique to only you. With that in mind, let’s look at what we do know, according to the latest OKC metro area real estate statistics:

• The number of homes closed last month (Sept 09) was up from both a monthly and annual comparison.
• The average home price is down in comparison to last year, but the median sales price is up over last year.
• The average listing is selling faster this year than last, and the inventory levels are much healthier.

What exactly does it all mean? That’s where the interpretation comes into play, but overall things still look pretty stable and positive here locally.

I believe we’re seeing a more balanced market, but many sellers haven’t realized that yet, which means there are plenty of ‘deals’ out there right now. Will that help balance out the downside of the expiration of the Tax Credit, if it is allowed to expire?

It’s a simple factor in market economics… supply and demand dictate pricing.

• As demand increases, so will prices if supply doesn’t keep up.
• As demand decreases, so will prices if supply doesn’t follow suit.
• As supply increases, prices will drop if demand doesn’t keep up.
• As supply decreases, prices will skyrocket if demand doesn’t drop.

This concept, of course, applies to real estate and is something you, as a home buyer and/or seller, should be keenly aware of at all times. Over the past 2 years, home inventory levels (supply) have been at levels considered ‘unbalanced.’ They’ve been higher than ideal and have created what many call a ‘buyer’s market.’

However, over the past few months, these inventory levels have been steadily decreasing, due in part to the Home Buyer Tax Credit., as evidenced in this chart:

To sum it up, here’s the part you should be keenly aware of right now:

An inventory of 5.7 months means sellers are regaining some leverage for negotiating, although buyers still have some advantage.