Virtually nobody saw the homebuying boom coming out of the fog of the coronavirus pandemic, but by last summer the market had exploded.
A volatile mix caused it to almost spontaneously combust:
Coronavirus-related pauses in construction as well as the manufacture and distribution of building materials sucked down the supply of new houses in the spring of 2020.
That combined head-on with federally engineered low mortgage interest rates that sparked demand — including from investors swooping in to buy houses to turn into rentals.
Face mask requirements and social distancing didn’t deter want-to-be-buyers. Safety precautions did make want-to-be sellers reluctant to put their homes on the market — lest they have to let strangers inside to look — further tightening supply.
It’s been a wild ride. Here’s your guide to the housing market in Oklahoma City. This list will be updated as coverage continues and the market evolves.