Market Outlook Positive in Tulsa
A report from the National Association of Realtors says the average home price will drop this year with the exception of just a few places. One of them is Tulsa, Oklahoma.
Realtor Lee Hurst is trying to sell a more than 4,000 square foot, four bedroom south Tulsa home.
Even with a listing price of $430,000, Lee believes he’ll have no trouble finding an Oklahoma mortgage applicant and eventual buyer.
“Tulsa’s market has been consistently doing well year after year. We don’t have the same kind of problems that the east and west coasts have been having right now.”
The reason is finding a good home like this one - at a reasonable mortgage cost - for sale in greater Tulsa isn’t easy.
“In other cities they’re just having way too many houses on the market and they’re not selling them as fast.”
While that’s making home prices drop in other cities, they should keep going up in Tulsa.
“They generally go up between three and five percent so I think they’ll continue to go up.”
The home Lee’s trying to sell has been on the market for over 40 days but he’s confident the day it sells is just around the corner.
Like the strong Texas housing market (fueled by low Texas mortgage costs), the market looks steady and consistent in Oklahoma going forward.
SOURCE: Fox 23 News