Oklahoma City Fall Parade of Homes hits market from starter to mansion

2022-09-23 22:14:47 By : Ms. Fiona hu

The earthquake that hit home sales didn't disrupt the Fall Parade of Homes, which marches on even as the market starts to stumble under the pressure of higher mortgage rates and slowing sales.

Market turbulence or not, homebuilders are still putting up their best efforts for all the public to see for free from noon to 6 p.m. Friday through Sunday, then again next weekend, Sept. 30-Oct. 2. Nearly 100 new homes are on the parade from Edmond to Norman and Yukon to Choctaw.

"Our metro-wide home tour might look a little different again this year," tour organizers said in the parade guidebook, available at OnCue locations. The guide was prepared before the slowdown. "With homes flying off the market at record speed, NOW is the time to find your dream home.

"While we might have fewer homes for you to visit this fall, we know your prefect home is just around the corner, and probably at a stage where you can pick your finishes to make the home truly yours."

Homes on display and on offer range from starter homes to $1 million-plus mansions during the 77th annual parade organized by the Central Oklahoma Home Builders Association. Here are the largest and the smallest and one built with hope.

'Can we afford it?' Interest rates are humbling OKC homebuyers

Home Creations says: "This well designed home features a split floor plan with great bedroom sizes, a massive primary closet, a breakfast bar with quartz or granite countertops, a large corner pantry, stainless-steel appliances, including a gas range, soft-close cabinets, a 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 will find."

Avalon Homes says: "Upstairs game room; master bedroom has large sitting room attached and hidden safe room. Fireplace in study; large pantry and utility room and glass wine room."

All proceeds from the sale of the House of Hope, built by Urban Nest Homes with donations of materials from suppliers and subcontractors for the nonprofit Oklahoma Home Builders Foundation, are donated to charity.

Charities receiving proceeds from sale of the House of Hope are:

See all the entries in the Parade of Homes at searchable www.paradeofhomesok.com/.

"We continue to experience supply chain issues, material shortages and major cost increases in most every aspect of homebuilding," said Dusty Hutchison, owner of Alder Fine Homes and president of the Central Oklahoma Home Builders Association.

Building material prices are up 37.5% since January 2020, with 80% of the increase coming since January 2021, he said.

"Increased lumber prices alone have added more than $14,000 to the price of an average single-family home since April 2020," Hutchison said. "Concrete products, softwood lumber, gypsum building products, and steel mill products — just to name a few challenge areas — have all seen significant cost increases over the past 12 to 18 months.

"And major delays in the supply chain have led to challenges in obtaining products like appliances, hardware and lighting. While some relief is on the horizon, the (National Association of Home Builders) is continuously working with elected officials to work toward resolving these issues with (the local association) keeping a close eye on our local progress."

Senior Business Writer Richard Mize has covered housing, construction, commercial real estate and related topics for the newspaper and Oklahoman.com since 1999. Contact him at rmize@oklahoman.com.