Here’s why we don’t think the real estate market has peaked quite yet.
Has the real estate market peaked? Millennials are hitting the home-buying market in force, and Oklahoma is experiencing higher numbers of buyers coming from other states.
There’s not enough supply right now to support this heavy demand. In fact, Barons recently published an article that said the housing boom could last for a decade because it’s driven by this lack of supply and growing demand.
More and more farmland is being sold and turned into developments, which is good for new construction inventory. However, builders are still behind because new homes are selling so quickly. It’s a good problem for them to have, but it’s causing demand to become even more pent up.
“Homebuilders might not be able to catch up to demand for another 10 years.”
If you think you’re too late to take advantage of this market and don’t want to buy at a peak, know that experts agree we’re not there yet. People are still moving here, and jobs are still being created, so we expect this housing boom continue for some time.
If you’re moving to another state, we’d love to connect you with a great Realtor in your new market. If you have any other questions for us about buying, selling, or real estate in general, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.