On 'American Dream Home,' one couple's hunt revealed in Tulsa, Oklahoma

Ashley and Greg begin their search for a perfect home in Oklahoma

Host Cheryl Casone helps homebuyers Ashley and Greg find their dream home in Tulsa, Oklahoma, on ‘American Dream Home.’

This week, an episode of "American Dream Home" on FOX Business Network featured Ashley and Greg, a couple on the hunt for their dream home in Tulsa, Oklahoma. 

Unlike other homebuyers who leave one city for another, they already knew the area. 

When we went to film in Tulsa, the market was still relatively affordable and home prices were slightly lower year over year. 

Prices have jumped 9.9 percent in the month of March, with a median selling price of $210,000.

But according to Redfin, all of that changed this spring after our filming was complete.  

Now, prices have jumped 9.9 percent in the month of March, with a median selling price of $210,000. 

We’ve also seen a big change for homes for sale and time spent on market. 

Listings in early spring of this year in the Tulsa, Oklahoma, area are selling after just 8 days — compared to a 15-day period last year. (iStock / iStock)

Listings on average are selling after just 8 days, compared to a 15-day period last year. 

One of the reasons this market has flourished recently is the rush we are seeing to close and lock in interest rates.  

Buyers are aware that mortgage rates have jumped substantially since January. 


Data released Wednesday from the Mortgage Bankers Association showed the average 30-year mortgage rate at 5.36 percent for the week of April 29th, a one basis point drop. 

The Federal Reserve has raised interest rates, as expected, by half a percent, which means these rates will continue to rise in the next few weeks. 


As for Tulsa, the quality of life is attracting a new type of homebuyer. 

Younger and first-time buyers are flocking to the city for its affordability. 

Markets such as Tulsa, Oklahoma, are and remain very attractive, said one real estate expert. 

For families, the draw of privacy, space and available land gives the city an edge over more crowded urban areas. 

Mitch Roschelle, founding partner, Macro Trends Advisors, says markets like Tulsa are and remain very attractive. 

“Affordability is still the biggest problem facing homebuyers.”

"Tulsa is much more affordable than gateway markets like Austin or Dallas," he said. "The Wall Street Journal pointed out there were 20 cities that are more affordable that are now seeing price increases like Tulsa."

He added, "Affordability is still the biggest problem facing homebuyers — and if you can find a market that’s more affordable and you can work from anywhere, why not live where you can get more bang for the buck?"

Cheryl Casone hosts “American Dream Home” on FOX Business Network, which airs Wednesday evenings at 9 p.m. ET.  (Fox News / Fox News)

As for mortgage rates, Roschelle believes these numbers are here to stay. 

"I think rates will end up being between 5 and 6 percent for most of the year. That’s for the 30-year, the country’s most popular mortgage," he said. 

"Compared to where they were a year ago, that seems really high, but historically that’s still really low."


"American Dream Home," hosted by Cheryl Casone, airs Wednesdays at 9 p.m. on Fox Business. 

Source: Read Full Article