Housing Trends

Area home sales increased by 5.45% in May, which is an upward trend from a year ago, according to Greater Tulsa Association of Realtors. TOM GILBERT/Tulsa World file

Area homes sales in May increased 5.45% over the same month a year ago.

The number of homes sold this month was 1,740 compared to 1,650 in 2018, according to data released by the Greater Tulsa Association of Realtors.

GTAR publishes the figures monthly based on the MLS Technology Inc. multiple listing service data.

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The statistics are based on residential properties in the Tulsa metropolitan statistical area, which is defined as a standard government-based area and includes Creek, Okmulgee, Osage, Pawnee, Rogers, Tulsa and Wagoner counties.

The average sale price for May dipped less than 1% (0.10), going from $182,188 last year to $188,007.

Average days on market to sale went from 43.63 days to 38.53 days, a drop of more than 11%.


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U.S. long-term mortgage rates were little changed this week, after six straight weeks of declines putting them at historically low levels.

Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage held steady from last week at 3.82%, its lowest point since September 2017. By contrast, a year ago the benchmark rate stood at 4.62%.

The average rate for 15-year, fixed-rate home loans slipped this week to 3.26% from 3.28%.

The declining rates have been a boon to potential purchasers in the spring home buying season, and the number of prospective buyers seeking mortgages jumped last month.

Mortgage applications for new home purchases increased 20.1% in May from a year earlier, according to new data from the Mortgage Bankers Association.


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Staff Writer

Rhett is in his fourth decade as a reporter. He covers development, manufacturing, aerospace, entrepreneurship and assorted other topics related to the Work and Money section.