OKLAHOMA CITY (KFOR) – It seems that Oklahoma City homeowners have something to cheer about, according to a new study.

In the midst of the coronavirus pandemic, Americans were met with a hot housing market.

Now, it seems that housing market has cooled as mortgage rates doubled from the historic lows that were seen in 2021.

Officials say home sales have slowed dramatically, and prices are starting to come down.

However, researchers say some cities are being impacted more than others.

Researchers at Construction Coverage analyzed the latest data from Zillow to determine the ‘Most Stable Housing Markets in the U.S.’

At the state level, researchers say Oklahoma, Iowa, and Alaska have the most stable housing markets in the United States.

Organizers say they measured the probability that a buyer purchasing a home at any point between 2000 and now would have experienced a greater than 5% price drop following the purchase.

They say all three of those states had a 0% chance of that happening.

The most stable markets in the United States were ranked as follows:

  1. Pittsburgh, PA
  2. Buffalo- Cheektowaga, NY
  3. Oklahoma City, OK
  4. Austin- Round Rock- Georgetown, TX
  5. San Antonio- New Braunfels, TX
  6. Tulsa, OK
  7. Urban Honolulu, HI
  8. Houston – The Woodlands- Sugar Land, TX
  9. Washington- Arlington- Alexandria, DC, VA, MD, WV
  10. Nashville- Davidson- Murfreesboro- Franklin, TN

In Oklahoma City specifically, the largest price drop was listed at $5,304. Meanwhile, the median home price has now climbed to $222,360.

For more information, visit Construction Coverage’s website.