Instability of the Real Estate Market in Oklahoma City

Thanks to its location, transportation services, labor market, accessibility to public services, and education, Oklahoma City has been characterized as one of the cities most chosen by Americans when it comes to investing in a property where they can live peacefully and start a family.

However, currently, the real estate market in the city is experiencing instability as a consequence of the fluctuation in housing prices. And although property sales have increased in recent months, they are not as high as evidenced during the COVID era.

Apparently, this price fluctuation is leaning towards the same levels that were present in past times, before the market changed due to the high demand for housing that arose with the pandemic.

According to the president of the Metropolitan Association of Realtors of Oklahoma City, despite the fact that the current market has better movement compared to previous years, it is still not possible to speak of a stable real estate market. For this to happen, it will be necessary for homes to remain on the market for a longer time, which would represent about 6 months available in inventory.

The platform Zillow, which provides information about the real estate market in U.S. cities, indicates that although the average prices of homes in Oklahoma City have increased, sales are being made more quickly and, therefore, do not stay long in the inventory of real estate agents.

Therefore, the speed at which home sales are occurring does not allow the real estate market in the city to reach the desired stability; it will only become stable when these properties for sale remain in the inventories for at least 6 months. However, the balance indicates that the market will lean towards stability later on, but only if interest rates are also reduced by some percentage.

Available Foreclosures:

Oklahoma City: 1200 homes available.

Surrounding metropolitan area: 300 homes available.

By Elías DaSilva | 19 de Noviembre de 2024