The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interes rates and extend the length of their mortgages. For borrowers who can’t resume their monthly mortgage, HUD will offer lenders the ability to provide all eligible borrowers with a 25% principal an interest reduction.
New Listings increased 17.8 percent for Single Family homes and 24.6 percent for Townhouse-Condo homes. Pending Sales increased 9.4 percent for Single Family homes but decreased 7.1 percent for Townhouse-Condo homes. Inventory decreased 22.4 percent for Single Family homes and 33.8 percent for Townhouse-Condo homes.
Month’s Supply of Inventory decreased 31.6 percent for Single Family homes and 44.4 percent for Townhouse-Condo homes.
Median Sales Price increased 7.6 percent to $220,541 for Single Family homes and 5.9 percent to $135,000 for Townhouse-Condo homes.
Days on Market decreased 55.6 percent for Single Family homes and 61.1 percent for TownhouseCondo homes.
The National Association of REALTORS® reported inventory of homes for sale nationwide rose slightly in June as more sellers list their homes, hoping to take advantage of record-high sales prices across the country. Even with renewed home seller interest, inventory overall remains 18.8% lower than a year ago, according to NAR.
Listed below are the monthly Oklahoma City Metropolitan housing statistics for the month of July 2021 as compared to June 2021 and July 2020. These statistics are supplied by MLSOK, Inc.
If you are wondering how current national and global situations might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
