How Covid-19 could impact the greater Tulsa housing market

It almost quite surreal that COVID-19, a diseased caused such a disruption, and has the potential to change nearly every facet of life for the foreseeable future, and Tulsa, Oklahoma market will be the exception by embracing new technology that empowers house parties to maintain social distancing and purchase properties.

Tulsa’s industries are expected to take a considerable hit in light of the government shutdowns of local business establishments and other related worries, as events expected to lure droves of people have been canceled.

As more people practice this new concept of “social distancing” a method of self-isolation, and, especially avoiding gatherings of more than 10 people-local businesses are already feeling the effects of the outbreak.

Of course, this is not to say that all could be just temporary, economically speaking.

Despite the unknown issues, housing demand is high, interest rates are very low, and buyers still want to buy. There is a strong indicator that shows mortgage applications to purchase are up 10% from last year, suggesting the real estate market may be shifting for the better. However, the recent events of this week aren’t being taken into full account.

With Tulsa, Oklahoma’s solid job market, coupled with low-interest rates, this could be the next boom for the local real estate market cycle. The sectors have the most challenges are in travel, hospitality, and leisure according to a study by the global real estate firm, Avison Young.

Tulsa, Oklahoma housing buyers who desire to purchase a new home or property are seeking to find creative ways to social distance themselves and purchase properties. Our company Jessica Ford & Associates has the latest 3g/4g technology to provide our buying clients a telepresent social distancing buying solution. It’s the first of its kind, a proactive approach to helping buyers buy properties and maintain a safe and social distancing solution. For more information regarding our telepresent social distancing buying solutions. Call or Text Jessica Ford at 918-402-1813.

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