Longtime real estate agent weighs in on Tulsa’s real estate market in 2022

TULSA, Okla. — FOX23 talked with a longtime real estate agent 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 houses on the market is low.

“We’re down around 2,300 homes on the market, and we should be between 5 and 6,000 homes,” said Wheeler.

With this current low inventory, he said there is high demand for sellers in these few first months.

“My previous record was 31 offers on one property, we did 40 offers on one property,” he explained.

While this is a perk if you are selling, it is a tough situation if you are looking to snag what little is available.

If you are able to snag what is on the market now however, he said you’re getting more bang for your buck because mortgage interest rates are still low like in 2021. If you wait to sell until the spring or summer, Wheeler predicts inventory will go up, aka your competition.

While this means more variety for buyers, he thinks rates will rise overtime so you will shell out more.

Wheeler also explained because there’s not enough homes being built in for the demand of people interested in the Tulsa market right now and there hasn’t been for a while, there’s higher demand for rental properties which makes for higher rent prices.