New crop of homes

The Oklahoman - - BUSINESS - BY RICHARD MIZE Real Es­tate Ed­i­tor rmize@ok­la­homan.com

Rain this year ap­par­ently hasn’t damp­ened home con­struc­tion. Shown is Gibbs-Han­cock Lux­ury Es­tates’ 14909 Cas­cade Drive in The Falls, north of NE 150 and east off Post Road.

Un­usu­ally fre­quent, heavy rains this year ap­par­ently haven’t damp­ened home con­struc­tion in Ok­la­homa City.

Based on the num­ber of build­ing per­mits is­sued, metro-area builders started 4.8 per­cent more houses through Septem­ber than in the first three quar­ters of last year, ac­cord­ing to The Builder Re­port by Dharma Inc. in Nor­man.

Builders started 3,815 houses, com­pared with 3,640 through Septem­ber 2017, in Ok­la­homa City, un­in­cor­po­rated Ok­la­homa County, Bethany, Blan­chard, Choctaw, Ed­mond, Mid­west City, Moore, Mus­tang, New­cas­tle, Noble, Nor­man, Shawnee and Yukon, ac­cord­ing to the re­port.

For their part, Re­al­tors han­dled 3.3 per­cent more sales than in the metro area than in the first three quar­ters of last year, 14,116 com­pared with 13,670, ac­cord­ing to the Ok­la­homa City Metro As­so­ci­a­tion of Re­al­tors.

Con­struc­tion ac­tu­ally man­aged to pick up even as the rains came a-tum­bling down. Builders started the year with a slight stum­ble, end­ing March down 1.2 per­cent com­pared with the first quar­ter of last year.

Builders had no choice but to adapt, said builderde­vel­oper Caleb McCaleb, whose work, among oth­ers’, in The Falls ad­di­tion at NE 150 and Post Road will soak up the spot­light the rest of the month dur­ing the Streets of Dreams lux­ury home tour.

Gates open for the Streets of Dreams at 10 a.m. Satur­day. The event goes through Oct. 28. Builders are McCaleb Homes, Adams Kirby Homes, In­tegrity Fine Homes, Mas­saRossa Lux­ury Homes, Mat­te­son Cus­tom Homes, Rip­ple Creek Homes, Tim Hughes Cus­tom Homes, and Gibbs & Han­cock Lux­ury Es­tates.

Tick­ets are $20 in ad­vance at www.streetof­dream­sok.com, or at Harry’s TV, Video and Ap­pli­ance, 11110 N Penn­syl­va­nia Ave. Tick­ets are $25 at the gate. Chil­dren 12 and un­der ad­mit­ted free.

The Chil­dren’s Hospi­tal Foun­da­tion will get 20 per­cent of the pro­ceeds. Spon­sors are Pella Win­dows & Doors of Ok­la­homa and Harry’s TV, Video and Ap­pli­ance.

“The thing is you make hay when the sun is shin­ing. That’s what we learned here over this sum­mer. When it’s out there and you can do it, you go out and dig and if you have to cover your con­crete with Visqueen (plas­tic va­por bar­rier), you do it,” McCaleb said.

Home­build­ing would be im­proved if the en­ergy busi­ness were in bet­ter shape, said Rusty Ap­ple­ton, ex­ec­u­tive di­rec­tor of Cen­tral Ok­la­homa Home Builders As­so­ci­a­tion, which or­ga­nized the Street of Dreams.

“Our econ­omy’s more di­ver­si­fied than it’s ever been in the his­tory of our city, which is good for us, and good for home­builders. But the fact of the mat­ter is we still go as oil and gas goes,” Ap­ple­ton said.

Ap­ple­ton said the slower en­ergy busi­ness mainly af­fects the mid­dle price ranges, the top and en­try level less so.

“The less-ex­ec­u­tivelevel po­si­tions, they’ll make those in­vest­ments in hous­ing first,” he said. “The ex­ec­u­tives will in­su­late them­selves — they’ll be slower to re­spond to mar­ket fluc­tu­a­tions, let’s say it that way.

“So what you’ll see is some of our more en­trylevel hous­ing is boom­ing right now, while (at) the $400,000-to-$500,000 range, some of those builders are still ex­pe­ri­enc­ing slower (ac­tiv­ity) than what they would pre­fer. But if oil and gas stays where it is, they’ll come out of that, as well.”

[PHOTO BY DOUG HOKE, THE OK­LA­HOMAN]

Mas­saRossa Lux­ury Homes built 14713 Cas­cade Drive for the Street of Dreams lux­ury home tour, which starts at 1 a.m. Satur­day and goes through Oct. 28.

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