Oklahoma Housing Market: What to Expect in the 2nd Half of 2024

Attention Tulsa home buyers and sellers! The latest housing market forecast for the remainder of 2024 brings encouraging news for Oklahomans. As your trusted Tulsa mortgage lender, Oklahoma MortgageGroup is here to break down what this means for you.

Home Prices to Rise Moderately:

Say goodbye to skyrocketing prices! Home values are expected to appreciate at a more balanced pace, offering stability for buyers and promising equity growth for sellers. It's a great time to invest in your dream home with a Tulsa mortgage loan.


Mortgage Rates to Ease Slightly:

With inflation cooling down, mortgage rates are projected to come down slightly, making homeownership even more attainable. Our team at Oklahoma Mortgage Group is ready to help you secure the best Tulsa interest rates for your new home.

Home Sales to Hold Steady:

The market is expected to remain active, so whether you're buying or selling, opportunities abound. Let Oklahoma Mortgage Group guide you through the process, ensuring a smooth and successful transaction.

Conclusion:

The second half of 2024 presents a promising outlook for the Oklahoma housing market. It's a great time to take advantage of the favorable conditions and make your move. Contact Oklahoma Mortgage Group today to explore your options and secure the best mortgage for your needs - click here to book a phone chat with us to discuss more.  Or call/text us at 918-236-2945.  Go to OklahomaMortgageGroup.com to learn more. Your dream home awaits!



Comments

Post a Comment

Popular posts from this blog

Two Reasons Why the Housing Market Won’t Crash

Image
 You may have heard some recent buzz about the economy and concerns about a potential recession. It's completely understandable for this type of talk to raise worries about the possibility of a housing market crash. However, there's good news – there's no need to panic. The housing market is not set up for a crash right now, and here are two key reasons why. Demand for Homes Is Higher than Supply One of the main reasons the housing market crashed in 2008 was due to an oversupply of homes. But the situation today is quite different. A balanced real estate market typically has about six months' supply of homes. When there's more than that, it signals that supply outpaces demand, and prices could fall. However, when there's less than that, it means demand is higher than supply, which tends to keep prices stable or push them higher. The graph below shows that in the lead-up to the 2008 financial crisis, there were 13 months of housing supply, which was far too much.
Read more

2025 Housing Market Forecasts: What Tulsa Homebuyers Need to Know

Image
As we move toward 2025, the housing market is already shaping up to be a more favorable environment for buyers. If you’ve been waiting for the right moment to make your move, here’s what the latest forecasts predict. Mortgage Rates in 2025: Projected to Come Down With inflation cooling, Tulsa mortgage rates are expected to decline throughout 2025, making home loans more affordable for buyers. As per recent projections (as of September 2024), interest rates from major institutions like Fannie Mae, MBA, NAR, and Wells Fargo suggest a gradual reduction: Q1 2025 average: 6.30% Q4 2025 average: 5.98% This is great news for anyone considering applying for a Tulsa home loan . Lower interest rates can help you save significantly on your mortgage in the long run. More Homes Expected to Sell in 2025 The lower Tulsa mortgage interest rates are projected to boost home sales. The forecast suggests an increase in buyer activity, with the total home sales reaching up to 5.7 million units nationwide
Read more

Don’t Get Caught Off Guard: The Hidden Costs of Buying a Home You Need to Know!

Image
When you’re ready to buy a home, it’s essential to understand all the costs involved. While your down payment is a significant factor, don't overlook closing costs . As your trusted Tulsa mortgage lender , I’m here to break it down for you. What Are Closing Costs? Closing costs are additional fees that come with finalizing your home purchase. Every buyer pays these, so it’s important to plan for them. Here’s a breakdown of the typical fees: Application fees Credit report fees Loan origination fees Appraisal fees Home inspection fees Title insurance Homeowners insurance Survey fees Attorney fees Some of these costs are one-time expenses, while others (like homeowners insurance) are ongoing responsibilities after you move in. How Much Are Closing Costs? On average, closing costs range from 2% to 5% of the home’s purchase price . For example: If you're buying a home for $422,600 (the current median price), your closing costs could be between $8,452 and $21,130 . Keep in mind tha
Read more