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As summer heats up, so does Omaha area housing market

Posted at 5:23 PM, May 26, 2017
and last updated 2017-05-26 18:23:47-04

In Omaha, two things are definitely hot right now - the weather and the area housing market.

With schools getting out, this is the time of year that families move. If you're looking to buy a home, realtors are saying get your financing lined up right away because houses are flying off the market.

TJ Nuckolls is turning a 1920's house into a dream home. He and his wife found the home in Dundee for around $150,000 and they quickly made an offer.

"I think this was like one of two that we found at that time that were in our price range," Nuckolls said. "Once you see the for sale sign, they go away pretty quick."

Realtor Mike Story says Nuckolls was so lucky because the Omaha area housing market is on fire. He says the hot areas are everywhere, but especially west Omaha and Midtown.

"We're right in the thick of busy season,” Story said. "It’s very competitive trying to find a home, especially probably $250k and under. $175k and under is very difficult. You have to certainly be ready to make an offer immediately if you like the home."

David Drozd analyzes data from the US Census Bureau for the University of Nebraska, Omaha. He says numbers show the need for homes in the Omaha area won't be going away.

“We have our large segment of the population, millennials, the children of baby boomers, who are hitting that 24 to 34-year-old time of their life," Drozd said. "Renting is kind of expensive, home owning is relatively cheap at the moment. Combine that with people moving in to that time frame of their life when they're looking to buy, and you have a good scenario for home ownership going forward."

For Nuckolls, he's just ready to move in.

"I'm adding all of the things I would have wanted to do to a new house anyway so yeah it worked out. I might be an enthusiast now I don't know."