OKLAHOMA CITY - It's a new year, and it looks like its a great time for Oklahoma home buyers.
On Tuesday, a new survey was released that shows Oklahoma City is ranked the third best place in the country for first-time homebuyers.
Realtor Becky Ivins, with Mover's Real Estate, says Oklahomans are poised to make a splash in the real estate market this year due to affordable housing and the number of buyers with good credit scores.
At this point, she says the average price of a home in Oklahoma City is about $160,000.
Millennials are dominating the real estate market, and there are several things they are looking for in a home:
- They want to be able to see everything online
- They are searching for affordability and convenience
- Their top design choice is 'modern traditional'
- They love outdoor spaces
- They would rather have something smaller so they can have experiences.
Interest rates are unexpectedly low right now, depending on credit scores.
At this point, luxury homes are going for a bargain because there are simply too many on the market.