The real estate market across the world has been volatile for the past three years and Oklahoma is no exception to that. After dramatic shifts into a frenzied seller’s market followed by interest rate hikes that froze activity, our local market has finally started to steady. Price appreciation has calmed and we are experiencing a more typical balance between buyers and sellers that is still leaning towards sellers.

Appreciation Has Leveled Off

While you may have heard that the real estate market was going to crash and prices were going to drop through the floor, you can see above that isn’t the case. As we projected, the market has cooled off since August, but homeowners still have record appreciation gains over the past 3 years and prices are just leveling off a bit. With interest rates expected to hold steady or even drop some, we expect prices will revert back to a normal 3-4% appreciation in the near future.

Houses For Sale!

The bigger issue has been the lack of houses on the market since August. That trend is reversing and we are seeing fantastic gains in new listings around the OKC metro. Buyers that have been searching for homes to no avail for the past couple of years, may now be able to find exactly what they are looking for!

What it Means for You!

There probably won’t be a great deal of difference in interest rates or buyer-seller balance over the next few months, but, if we have learned anything over the past three years, real estate can change in a flash. Right now is a great market with more listings on the market and buyers still slow to react to better interest rates. Our team can help you take advantage of this market or build a plan of action for a future market!