Tulsa-area foreclosures decline in July
By ROBERT EVATT World Business Writer on Aug 15, 2013, at 11:05 AM
Real Estate
U.S. homebuilders' confidence in the housing market held this month at its highest level in nearly eight years. But builders are starting to worry that sales may slow if mortgage rates continue to rise.
New home construction in the Tulsa region from January to August is outpacing last year's numbers, a continuation of the upward tick that started in 2012 following a six-year slide.
Tulsa-area foreclosures fell significantly for the month in July, though the year-to-year drop was eclipsed by the national average.
Approximately 491 homes were repossessed last month, according to estimates from real estate data company RealtyTrac.
The resulting foreclosure rate of one for every 829 households is down 22.1 percent from June and 14.2 percent from July 2013.
By comparison, the national average rate is one for every 1,001 households, up 2.4 percent from June but down 31.8 percent from the same time the previous year.
Real Estate
U.S. homebuilders' confidence in the housing market held this month at its highest level in nearly eight years. But builders are starting to worry that sales may slow if mortgage rates continue to rise.
New home construction in the Tulsa region from January to August is outpacing last year's numbers, a continuation of the upward tick that started in 2012 following a six-year slide.
