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Oklahoma home appreciation slow compared to national average

OKLAHOMA CITY (AP) -- Homes prices in Oklahoma are increasing at a rate much slower than the national average.

Oklahoma City homes had a price increase of 7.56 percent from the end of 2004 to the end of 2005, and Tulsa had a 4.71 percent boost in the same period, according to new figures from the Office of Federal Housing Enterprise Oversight.

Nationally, home prices increased 12.95 percent over the year.

U.S. home prices increased 284.75 over five years, while Oklahoma City prices increased 32.1 percent and Tulsa prices increased 21.95 percent.

Appreciation could slow in the Oklahoma City area this year, said Sharon Young, chief executive of the Metro Association of Builders. On the bright side, some housing industry leaders say the lack of skyrocketing prices in Oklahoma mean the state's housing market should be safe from the rapid depreciation that can be seen in areas where high prices can't be supported.
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