Mixed Bag on Tulsa Metro Home Starts
Tulsa, OK – The Home Builders Association of Greater Tulsa announced today that metro Tulsa housing starts totaled 166 in November, 12.2 percent above starts reported in November 2008. The November total is a 33.3 percent decrease from the 249 starts in October, as the industry moves into the slower winter season. However, the year-over-year increase continues to edge annual starts closer to prior year totals, as year-to-date starts now trail 2008 figures by only 13.5 percent.
According to permit-tracking service New Orders Weekly, there have been 2,263 permits issued through November compared to 2,617 starts during the same period in 2008.
Of November's 166 permits, Broken Arrow and Tulsa each had 23, the most in the metro area. Owasso followed with 22 starts for the month. The three cities also have the highest total starts year-to-date at 343, 340, and 283, respectively.
"The Association expects starts to finish within 10 percent of last year, which is a true test to our market and our builders considering where we started the year and compared to the rest of the nation," said Gary Soderstrom, 2010 president of the Home Builders Association of Greater Tulsa. "With consistent gains in starts through our busy season and significant improvement over monthly totals from a year ago at this time, we believe that we have seen the bottom for our market and are now heading steadily toward recovery. Although it may take up to a year or more to get there, we are optimistic that with the support of government programs, the stability of our local economy and the affordability of housing in Tulsa, all of the signs point toward a stronger market ahead."
Local 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, Okmulgee, Sand Springs, Sapulpa, Skiatook, Tulsa, Verdigris, and Wagoner along with Tulsa, Rogers and Wagoner Counties.