The Summer Housing Market Forecast for Oklahoma: Sun, Sweat, and Strategy

Summer’s here in Oklahoma, and with it comes a flurry of activity – including the housing market. Whether you’re a buyer or seller, navigating the summer market can feel overwhelming. But worry not! Here’s a breakdown of what to expect in the coming months:

More Homes on the Market: Sellers who held off in the spring frenzy are likely to list their properties now. This means a wider selection for buyers, but also potentially more competition depending on the property type and location.

Steady Price Growth: Prices are expected to continue rising, though perhaps at a slower pace than the breakneck speed of recent years. This is good news for sellers but could make affordability a concern for some buyers.

Mortgage Rate Stabilization: Interest rates, which have been a major factor in affordability, are predicted to stabilize in the latter half of 2024. This could be a positive sign for buyers who have been waiting for a better rate environment.

**Here’s a breakdown for buyers and sellers:

  • Buyers: The increased inventory offers more options, but be prepared for some competition. Shop early for the best selection and work with a realtor to navigate the market effectively. Consider adjustable-rate mortgages (ARMs) if you think rates might stay low in the short term.

  • Sellers: While there will be more competition, Oklahoma’s seller-friendly market is expected to continue. Price your home competitively and consider offering incentives like closing cost assistance to attract buyers.

Remember, the Oklahoma market can vary by location. Consulting a local realtor is your best bet for getting the most up-to-date insights for your specific area.

Happy house hunting!

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