Building Industry Shows Signs of Improvement

Despite the economy and the constant news that the housing market is failing, Tulsa, Broken Arrow, and the Tulsa metro area are doing quite well. Tulsa and Broken Arrow both had 32 housing starts (new residential building projects started) for the month of December. Broken Arrow, however, had 375 housing starts for the year of 2009, where Tulsa had 353. 190 building permits were issued in the Tulsa metro area in December. That is a 14.5% increase over November of 2009 and an 81% increase over December of 2008. Tulsa's housing starts for the year of 2008 were only 9.5% behind that of totals from last year at the same time. While that may not sound positive, the beginning of the year housing starts were 50% behind those of last years.

That news causes many to believe that the building industry is improving. While there is no one factor that could cause this improvement, there are several that may have helped with it: the first time buyers tax credit and new legislation in Oklahoma that would require builders to carry worker's compensation insurance.

To build a new home in the Tulsa, OK or Broken Arrow, OK area call Rick Oberlender of US Buidling Systems at 918-734-1293 or usbs@att.net.

To buy or sell a home in the Tulsa, OK or Broken Arrow, OK area, contact The Baskin Real Estate Specialists at 918-258-2600 or www.darrylbaskin.com.

For more information on the first time home buyer tax credit contact Karen Heston at 918-230-9432 or kheston@bokf.com.