Mixed Figures on Local Housing
Tulsa, OK – The Home Builders Association of Greater Tulsa announced today that new home starts in metro Tulsa increased in March, with 165 permits reported by tracking service New Orders Weekly. This number is ahead of February totals by 6 percent and brings the number of starts for the year to 431, which is 32 percent behind starts recorded in the first quarter in 2010.
Tulsa logged 35 starts in March, bringing the total number of starts for the year to 82, the highest in the metro area. Bixby followed with 21 starts, and Broken Arrow rounded out the top three with 20 starts.
"It's difficult to compare our first quarter housing starts in 2011 with 2010 because the federal tax credit so heavily influenced the 2010 numbers." said Rob Miles, a veteran builder and president of the Home Builders Association of Greater Tulsa. "If you compare the 2009 first quarter, we're only off by about 10 or 11 percent. Looking ahead into 2011, we've got stable construction activity, close-to-normal inventory levels, lower foreclosure rates and solid housing affordability and values. The area remains poised to be one of the first to rebound from the downturn, particularly as we approach the height of the building season."
Consumer activity and buyer demand in the building market appears to be strengthening, the 900-member trade association reported successful feedback from both exhibitors and attendees at its recent
Greater Tulsa Home & Garden Show, held in March. In addition, the organization's annual Greater Tulsa
Parade of Homes event, Tulsa's largest new home showcase event, is slated to feature over 140 homes from more than 60 local building companies. The event is scheduled for June 11-19, 2011.
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, Okmulgee, Sand Springs, Sapulpa, Skiatook, Tulsa, Verdigris, and Wagoner along with Tulsa, Rogers and Wagoner Counties.