As a mortgage broker here in Oklahoma, I’ve had a front row seat to the red hot housing market here in the heartland. Demand for homes has skyrocketed not just in our state, but across much of the Midwest and South.

New data from Freddie Mac shows Oklahoma saw a staggering 20.4% increase in purchase applications so far this year compared to 2023. We’re not alone – neighboring states like Arkansas (19.8%), Mississippi (19.4%), and Kentucky (14.5%) are also experiencing a home buying frenzy.

What’s driving this surge?

A few factors seem to be at play. First, many people are being priced out of the expensive coastal markets and are looking for more affordable places to buy. With work-from-home becoming permanent for many companies, buyers have more flexibility on location. The Heartland is appealing with its lower costs of living.

Additionally, sunbelt states like ours continue to draw new residents looking to escape harsh winters and high taxes. Oklahoma’s business-friendly policies and lack of a state income tax make it an attractive option.

Growing demand –

Of course, this torrid demand has its challenges. Home prices continue climbing due to limited inventory of houses for sale. Buyers often face heated bidding wars. And sellers remain reluctant to give up their low mortgage rates by moving.

But overall, it’s an exciting time in real estate here. After years of being overlooked, the spotlight is finally shining on Oklahoma and our sister states as hot housing destinations. Buyers are flocking to take advantage of the relative affordability, steady job markets, and wonderful quality of life we offer.

For mortgage professionals like myself, it means lots of opportunity but also the chance to help families make their homeownership dreams a reality in the heartland. I’ll keep doing my part to make that process as smooth as possible for my clients in this sizzling market.