Your money: Home sales in Tulsa strong, prices up

Sales of single-family homes jumped in May to a new six-year high, well above expectations and the largest month-to-month growth in nearly a quarter century.

The Commerce Department released figures Tuesday showing an 18.6 percent jump, to a seasonally adjusted rate of 504,000 units.

That was the biggest increase since January, 1992.

In Tulsa, realtor Sheryl Chinowth of Chinowth & Cohen Realtors tells KRMG, they're seeing record sales.

She said January through March saw slow sales nationally, and the industry wasn't sure if that was due to the bitter cold weather or the economy.

Now, she says, they know -- the surge in sales shows that buyers were sitting out the weather.

She said almost any home in Tulsa selling for less than $500,000 is attracting multiple offers.

Of course for buyers, the news is less positive.

She advises prospective buyers to utilize a realtor who has their best interests in mind, and to do their research.