Newspaper article THE JOURNAL RECORD

November Home Sales Up 17.5%

Newspaper article THE JOURNAL RECORD

November Home Sales Up 17.5%

Article excerpt

By Betty Jane Harvey

Journal Record Staff Reporter

November home sales jumped 17.5 percent to a total 711 closed compared with the same month in November 1991, according to a monthly report released Thursday by the Oklahoma City Metropolitan Association of Realtors.

There were 605 homes sold in November 1991. The total this November fell 9.8 percent from 788 in October.

Total dollar volume closed during November was up 28.9 percent to $51.1 million, from $39.6 million. November's dollar volume was down 11.2 percent from $57.59 million in October.

"As I look over the last three months, there was about a 13.8 percent increase compared to the same few months last year," said Thomas Lay, president of the association. Lay said a comparison for the last five months showed a 12.8 percent increase over the same five months last year.

Home sales in the last three months totaled 2,253, compared with 1,979 homes sold in the same period last year. In the five-month comparison, there were 4,003 homes sold in 1992 vs. 3,547 homes sold in the same period of 1991.

By looking at the tail-end of these five months, Lay said, the 13.8 increase over the period last year "shows a little better of an increase, largely influenced by the November figures."

"It shows that these last few months of the year have gained momentum, and that this is an increasingly upward trend. We have really had much more activity than we normally do," he said.

The real estate market entered the common trickle-down period in November, and that period usually extends through January, Lay said.

"Those that have to buy, will buy. But those who want a change will wait until after the holidays."

In the past 11 months, there were 8,070 homes sold, 3.19 percent over 7,820 closed in the same period last year.

Houses sold for an average $71,882 per house in November, up 9. …

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