Longtime realtor weighs in on Tulsa real estate market in 2022 – FOX23 News
TULSA, Okla. — FOX23 spoke with a longtime realtor about his predictions for the Tulsa real estate market in 2022.
Owner of Accent Realtors, Paul Wheeler has worked in real estate for decades.
He told FOX23 right now, like last year, the number of homes on the market is low.
“We’re down about 2,300 homes on the market, and we should be between 5 and 6,000 homes,” Wheeler said.
With this current low inventory, he said there was strong demand for sellers in these first few months.
“My previous record was 31 offers on one property, we made 40 offers on one property,” he explained.
While that’s an advantage if you’re selling, it’s a tough one if you’re looking to snag what little is available.
However, if you are able to acquire what is on the market now, he said you get more for your money because mortgage interest rates are still low like in 2021. If you wait to sell up spring or summer, Wheeler predicts inventory will go up, meaning your competitors.
While that means more variety for buyers, he thinks rates will increase over time, so you’ll shell out more.
Wheeler also explained that there aren’t enough homes being built to meet the demand of people interested in the Tulsa market right now and that there haven’t been any for a while, there has a higher demand for rental properties, leading to higher rental prices.
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