Housing Starts Flat
Tulsa, OK – There were 161 housing starts reported in metro Tulsa during the month of April, according to information released today by the Home Builders Association of Greater Tulsa. This total was relatively flat compared to the previous month (165 starts), and 40 percent less than starts reported in April 2010. Total starts year-to-date are 591, which is 35 percent behind the same period in 2010, according to permit-tracking service New Orders Weekly.
"Based on activity over the past 12 months, it appears that our local market has leveled out, with housing start totals concentrated within a range from 125-175 starts per month. April activity was at a stable and typical pace for the spring season," said Rob Miles, a veteran builder and president of the Home Builders Association of Greater Tulsa. "The year-over-year comparisons are slightly misleading because last year's number was significantly impacted by the first-time home buyer tax credit, which drove an increase in building activity and expired at the end of April 2010. A better gauge of current market performance is a comparison to figures from April 2009, during which there were 185 home starts, or 13 percent more than the April 2011 total."
Cities with the greatest number of starts in April were Tulsa, Broken Arrow and Owasso, with 29, 24 and 23 starts, respectively.
A portion of the 591 starts year-to-date is affiliated with the area's largest new home showcase event, the 2011 Greater Tulsa Parade of Homes, which is scheduled for June 11-19. This year's event will feature more than 140 homes from approximately 60 local building companies. The new home showcase event is one of the largest in the country, and remains one of the best ways for buyers to get an up-close look at wide range of home styles, building companies and the latest trends. There are also nine featured subdivisions. Homes are spread throughout 14 cities from Bartlesville to Coweta, with the majority of the participating homes in Broken Arrow (35 homes), followed by Tulsa and Owasso(25 homes each).
Local housing start figures reflect permit information for the entire Tulsa metro area, which includes Bartlesville, Bixby, Broken Arrow, Catoosa, Collinsville, Claremore, Coweta, Glenpool, Jenks, Kiefer, Muskogee, Owasso, Sand Springs, Sapulpa, Skiatook, Tulsa, Verdigris, and Wagoner along with Tulsa, Rogers and Wagoner Counties.