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Richard Mize wrote a very informative article in the Daily Oklahoman on Thursday, October 25 regarding the state of the real estate market in the Oklahoma City Metro. http://www.newsok.com/article/3156326/

He points out that the local market has shifted from a seller’s market to a neutral market due the current inventory of homes nearing a 6 month supply. Despite the shift, home prices have remained strong with a slight decline in the number of homes sold this year over last year.

Nationally, the news is much more grim. According to the National Association of REALTORS, there is a 10 month supply of homes for sale across the country. Unfortunately, the national news gets much more attention than the local news, and buyers and seller start to believe what they hear is happening in the rest of the country is happening here.

Although we are not fully in a buyer’s market, buyers do have the benefit of having a large selection of homes from which to select, and sellers know they have more competition for the buyer. Sellers are coming to the realization that they must price their homes right and have them in good repair from the outset.

In my opinion, now is a great time to buy a home!

--Periann