11/07/2023
🏡📉 Attention Oklahoma City friends! 📉🏡
The recent Federal Reserve meeting didn't budge rates, but the possibility of more hikes lingers if inflation stays stubborn. What does this mean for our real estate market? Well, the current scenario feels like a financial bully, vigorously shaking every last nickel out of homebuyers' budgets until mortgage rates ease up.
However, amidst the turbulence, there are glimmers of hope for us in the housing market! 🌟🏘️ Despite a nationwide decrease in real estate listings and reduced inventory in the top 50 metros, some cities are showing signs of sellers cutting prices.
The good news? In a few metros, sellers are slashing prices compared to last year, especially in certain parts of the South and Midwest. Guess what? Our very own Oklahoma City is among the metros where the share of price reductions has increased.
According to experts, Oklahoma City has seen a 3.4% increase in the share of price reductions, which means there might be opportunities for potential buyers. So, if you're in the market for a new home, it might be worth keeping an eye out for potential deals here in OKC! 🏠💰✨
Let's stay informed and explore what this could mean for us as potential buyers or sellers. Feel free to share your thoughts and experiences in the current market! 📈🏡
