Friday, December 11, 2009

More Good News For Tulsa

Forbes puts Tulsa on Bang-for-Buck list
The magazine ranks Tulsa No. 19 and Oklahoma City No. 26 overall in real estate.
By ROBERT EVATT World Staff Writer
Published: 12/9/2009 2:26

Forbes Magazine has ranked the Tulsa area No. 19 on its Best Bang-for-the-Buck Cities list. The list, posted on Forbes' Web site, ranked the real estate markets in the nation's 100 largest cities by their affordability in areas such as home prices, property taxes and travel times to work.

Forbes also took into account factors such as vacancies, foreclosures and job market forecasts through 2012.

In October, the last month for which data is available, the Greater Tulsa Association of Realtors reported the average sales price of a home in Tulsa was $145,922, down from $161,767 in October 2008.

In subcategories, Forbes ranked the city at 33rd in housing affordability, 14 in property taxes, 13 in unemployment, 45th in vacancies and 80th in the job forecast.

Oklahoma City ranked 26th overall, 28th in home affordability, fourth in unemployment and 100th in the job forecast.

The article noted that several cities across the Great Plains made the list, as the recession has not hit the region as hard as some other parts of the country.

"This swath of prairie in the center of the country was somewhat buffered from the disastrous effect on coastal markets of the housing crisis, enabling it to emerge solidly from the recession," the Forbes story says. "Housing sales here kept a steady, if slow, pace during the boom."

The top city on Forbes' list was Omaha-Council Bluffs, Neb., and Iowa; followed by Little Rock-North Little Rock- Conway, Ark.; Jackson, Miss.; Des Moines-West Des Moines, Iowa; Augusta-Richmond County, Ga., and S.C.; and Wichita at No. 6.

Robert Evatt 581-8447 robert.evatt@tulsaworld.com
By ROBERT EVATT World Staff Writer

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