Good Morning. As we all struggle not to eat the giant bags of candy meant for neighborhood kids like an NFL defensive lineman trying to avoid a roughing the passer penalty, just know that we are in solidarity. P.S. we heard kids don't even like Kit Kats anyway so you can have those!
THIS WEEK IN THE MARKET
NEW
LISTINGS
585
-12.6%
HOMES
CLOSED
357
-27.3%
NEW PENDING
CONTRACTS
501
-00.1%
*All data is from MLSOK and covers Single-Family properties only. Percentages are based on year-over-year changes.
MARKET OUTLOOK: There are definitely more buyers coming back to the market with pending contracts nearly matching all-time high numbers from last year. Listings are still down which will further crunch inventory and closings are down which is more of a reflection from a month or two ago.
BIGGER PICTURE: You have probable looked at these numbers the past few weeks and see a consistent theme of lower numbers than we saw at this time last year. But, this same comparison done to the same week in 2019 (the last "normal" market") here is what you would see:
New Listings +4.5% | Homes Closed -1.1 % | New Pending Contracts +26.2%
So we aren't in some crazy free-fall market. We are just in a balancing market returning to more normal conditions. More on this in this week's blog.
Weekly Market Update Blog
The Argument For Buying Today
INVENTORY IS STILL LOW: Though inventory is higher than it has been since the pandemic, it is still not at a level that will create a balance market for buyers and sellers. We are sitting at 2.2 months of inventory which leaves us in a strong seller's market.
HOW CAN IT BE?: Fannie Mae and Freddie Mac have projected that the 2023 national home appreciation average will be 4.4% and 4.0% respectively. Check out why at this week's blog.
If you are considering buying a new build in the OKC area, check out one of these builders to see what they have available!
LOCAL NEWS
Tour Of OKC Headlines
ECO-FRIENDLY CHOICES AT HOME: Having an eco-friendly home doesn't have to be a sacrifice. Start by doing the 4 Rs: Recycle, Re-use/Repurpose, Rehome, and Reclaim. Read more here.
TIPS FOR HOME BUYERS: The market is constantly changing but here are a few tips for home buyers! Find a local lender with diverse product knowledge, forget Zillow, and even look for an assumable loan? Read more tips here.
Don't miss out on this beautiful home in the coveted Monroe School District! Upon arrival you'll be greeted by the charming curb appeal. Enjoy your front porch that is open to the outdoors, but still provides privacy. You'll enter the home to a large, inviting living room featuring a cozy fireplace and built-in shelving. The bright, airy kitchen has updated features and provides a great space for cooking. Off the kitchen is a laundry room leading to the two car garage with an above ground storm shelter. Needing some extra space? This home features a flex area just waiting for you to personalize. Down the hall you'll find plenty of storage as well as 2 spacious secondary bedrooms and a hallway bath. The master bedroom has it's own ensuite bathroom and his and hers closets. The large backyard has a deck perfect for entertaining on those nice weather evenings. This home is ready for you to make it yours today!
Fall Decoration Tips
Autumn At Your Home
Tips and Tricks to Decorate Your Home For Fall:
Adding pumpkins and gourds around the house and outside
Layering is key to decoration, like adding a chunky knitted blanket on the couch
Festive throw pillows on chairs and couches
Add items in the colors: burnt orange, ivory and other neutral colors
Your favorite fall candle or even a fall spice simmer pot to tie it all together!
Tony Graham has been a licensed REALTOR in Oklahoma since 1989 and has successfully closed more than 800 homes across Norman, Edmond, Moore, and the Oklahoma CityMetro. Averaging 23 closings per....
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