Seller’s and homebuyer’s guide to OKC’s booming housing market

 Seller’s and homebuyer’s guide to OKC’s booming housing market

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. 

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Read full article…www.oklahoman.com