Housing Prices Continue Rising Nationally

Housing market experts say the cost of a home went up between 13-18% across the country, including here in Oklahoma, in the past six months. Right now, there are less than 1,000 houses for sale in Tulsa and the surrounding area. This means those moving into town need to be willing to pay higher prices for the few places available.

Tulsa realtor Hannah Baker said the housing market has been all about moving quickly for the past year as people try to buy up the few houses available. She says on average people are offering up to $10,000 above the asking price and many of those are paying in cash.

Baker told News On 6 that the housing prices in Tulsa are dramatically increasing as well and she expects that trend to continue into 2022.

“They are saying interest rates are going up right now,” Baker said. “We are at 3.25% interest and the federal government has said in 2022 there are going be a couple more hikes in interest prices. Now is a great time to buy, but it’s always a great time to buy.”

She said the best thing someone in the market can do is be educated on the process so they know what to expect.

“It’s a good learning experience, so the more you have the ability to go look at houses and dip your toe in the water of how the process works, that will prepare you for when the right house does come along,” Baker said.

Baker said the market often fluctuates with the economy, so it is important to keep an eye on trends to get the best deal.