Reputed Real Estate Investors Best Offer OKC Reports Rapidly Cooling Housing Market
November 15, 2022 at 17:14
Best Offer OKC issued a statement on their official blog, stating that the rapidly cooling real estate market means homeowners wanting to sell will have to accept lower offers. However, worse off are people with less-than-desirable homes.
Oklahoma City, OK – Oklahoma is one state where buying property has always been considered a stable investment poised to grow. Over the years, it has overtaken other states to become the hottest housing market. While it continues to be hot, there are signs that the market is cooling down, signs that, according to Best Offer OKC, means that seller will need to settle for lower offers. The increased costs of building a home have been leading to higher housing prices, but there has also been a lack of homes which has compounded the effect, contributing to historically higher prices. But rising mortgage interest rates now make it a lot more expensive to own a home in the state.
According to the US Census, Oklahoma City is the 25th largest in the country. In the past twelve years, i.e., since 2010, it has grown by 12%. But while there is a housing shortage in the state, the pandemic, compounded by higher interest rates, and talk of a downturn, are turning away an increasing number of buyers from the market. First-time home buyers are deciding to hold off on their purchase until the economic dust settles.
Readers can learn more about Best Offer OKC and apply for a no-obligation offer for their homes by visiting the company’s official website https://bestofferokc.com.
“The housing market in Oklahoma City has always been hot. However, we’re seeing signs of it rapidly cooling down, which means if you want to sell, there is no time than the present to do it. Waiting any longer could mean you’re stuck with the home for the next six to nine months or have to accept an even lower offer. However, holding off on a sale for over a year is not something most homeowners may want to do since there is no telling when the market will start recovering,” said a representative for Best Offer OKC.
About Best Offer OKC
Best Offer OKC is owned by Alex and Ellen, born and raised in Chicago, IL. However, the high school sweethearts have been calling Oklahoma City for a while now, where they not only live with their dogs and enjoy going hiking but also buy homes for cash. The couple enjoys purchasing and renovating homes, often flipping them for a profit while helping owners of ugly homes sell fast for cash.
For more information about Best Offer OKC, contact the company here:
Best Offer OKC
Best Offer OKC
12101 N MacArthur blvd, Ste A-107
Oklahoma city,OK 73162