The earthquake that hit home sales did not disrupt the fall rally for homes, which continued even as the market began to falter under pressure from high mortgage rates and slowing sales.
Market turmoil or not, homebuilders are still doing their best to be seen by all the public for free from noon to 6 p.m. Friday through Sunday, and then again next weekend, September 30-October. 2. Nearly 100 new homes are on display from Edmund to Norman and Yukon to Choctaw.
“Our subway-wide home tour might look a little different again this year,” said tour operators in the show guide, available at OnCue locations. The manual was prepared before the slowdown. “With homes taking off the market at record speed, now is the time to find your dream home.
“Although we may have fewer homes to visit this fall, we know your governor’s home is very close, perhaps at a point where you can choose your finishes to make the home truly yours.”
Homes on display range from starter homes to mansions worth over $1 million during the 77th annual Show of the Central Home Builders Association of Oklahoma. Here is the largest and smallest one built hopefull.
“Can we afford it?” Modest interest rates OKC homebuyers
The smallest home parade
- Area: 1416 square feet
- Builder: Home Creations
- Address: 11444 SW 11, Yukon
- Three bedrooms and two bathrooms.
- Price: $279,558
Home Creations says, “This well-designed home features a generously sized divided floor plan for the bedroom, a massive base cabinet, a breakfast bar with quartz or granite countertops, a large corner pantry, stainless steel appliances including a gas range, closet cupboards, Covered patio…This home comes with a 10-year structural warranty and countless features that combine to allow for one of the best energy efficiency ratings you’ll find.”
The biggest home parade
- Area: 4,960 square feet
- Builder: Avalon Houses
- Address: 18333 Chelsea Circle, Newalla
- Four bedrooms, four bathrooms, two half bathrooms.
- Price: 1,100,000 dollars
Avalon Homes says, “Upstairs playroom; master bedroom with large attached sitting room and hidden safe room. Fireplace in study; large pantry, utility room, and wine glass room.”
House of Hope raises funds for seven charities during Parade of Homes
All proceeds from the sale of House of Hope, built by Urban Nest Homes, are donated with donations of materials from suppliers and subcontractors to the nonprofit charity Oklahoma Home Builders.
- Size: 2865 square feet
- Builder: Urban Nest Homes
- Address: 48 Primrose Point Ave. , Piedmont
- Six bedrooms and three bathrooms
- Price: $586,900
The charities that receive the proceeds from the sale of the House of Hope are:
See all entries for Parade of Homes at www.paradeofhomesok.com/ searchable.
Market transformations under the feet of builders as they prepare for the procession of homes
“We continue to experience supply chain issues, material shortages, and significant cost increases in most aspects of homebuilding,” said Dusty Hutchison, owner of Alder Fine Homes and president of the Central Oklahoma Home Builders Association.
He noted that building materials prices have increased by 37.5% since January 2020, with 80% of the increase coming since January 2021.
“The increase in sawnwood prices alone has added more than $14,000 to the price of an average single-family home since April 2020,” Hutchison said. “Concrete products, softwoods, gypsum building products, and steel mill products – to name a few challenging areas – have seen significant cost increases over the past 12-18 months.
“Significant supply chain delays have created challenges in sourcing products like appliances, appliances, and lighting. While some relief is on the horizon, (the National Association of Home Builders) is constantly working with elected officials to work on these issues with (the local association) keeping an eye on closely our domestic progress.”
Senior business writer Richard Meese has covered housing, construction, commercial real estate and related topics for the newspaper and Oklahoman.com since 1999. Contact him at [email protected]