Metropolitan Statistical Area (MSA):
Durant, OK is a Metropolitan Statistical Area (MSA) comprising counties including .
There are many factors influencing real estate trends in the Durant, OK metropolitan statistical area (MSA). The economy, job market, interest rates, and population growth are all important drivers of the housing market.
The Durant MSA has seen strong economic growth in recent years. This has led to an increase in demand for housing, which has driven up prices. The median home price in the Durant MSA is $153,000, which is up 8.3% from last year. The number of homes sold is also up 8.3% from last year.
The job market in the Durant MSA is very strong. The unemployment rate is just 3.4%, which is well below the national average of 4.9%. This strong job market has led to more people moving to the area, which has increased demand for housing even further.
Interest rates remain at historically low levels, which makes buying a home more affordable than it would be if rates were higher. This low-interest environment is expected to continue for the foreseeable future, making now a good time to buy a home in the Durant MSA.
Population growth in the Durant MSA has been relatively flat over the past few years. However, this appears to be changing as more people are moving to the area due to the strong economy and job market. This population growth will likely lead to even higher demand for housing in the future and could cause prices to rise even further