TOULSA, Oklahoma. (KOKI) – The booming Tulsa real estate market is now seeing a slight slowdown after months with homeowners pushing homeowners to make big offers, turning around quickly and running out of inventory.
Paul Wheeler of Accent Realtor says it is partly to blame for the buyer’s remorse when people bid much higher than the asking price.
“When people come in and win in a competing offer situation, and then they wake up in the middle of the night and ask, ‘Oh the hell, what did I do? “… We see people coming, maybe it’s worth the wait,” Wheeler said.
Gennie Davis of Chinoweth & Cohen Realtors notices this too, and says buyer fatigue is another factor. People are so exhausted from the stressful home buying process that they take a step back to reflect and slow down their purchase.
Both agree that demand in Tulsa is still high. Davis says that while the number of homes on the market is also still small, due in part to COVID, as we overcome the impact of the pandemic on the market, we can expect stocks to return to pre-pandemic levels.
Wheeler can see it already.
“Now they say, ‘Oh my gosh, we get such great prices in our market, even if I have to rent a little time, I will sell the house and take advantage of this great seller’s market,” added Wheeler.
Both agents also mentioned the fact that people are coming in droves from outside Tulsa and other states to take advantage of the quality community and low cost of living that are playing in the still competitive market we are seeing.
After all, interest rates deserve to be exploited, and buying or selling when used wisely is still a good idea before we see these rates start to rise.
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