Oklahoma City Housing Market: Trends and Forecast 2025-2026

Let's talk about something that's on a lot of our minds here in Oklahoma City: the housing market. Right now, in late 2025, the Oklahoma City housing market is showing signs of steady, not explosive, growth, and looking ahead to 2025, we can expect more of the same – a balanced market with continued, but more reasonable, price increases and improved affordability thanks to stabilizing mortgage rates. It’s definitely not a doomsday scenario for prices, but it’s also not the frenzied rush we saw a couple of years back.

OKC Housing Market: What's Happening Now in 2025

Let's dive into what the numbers from Realtor.com tell us about right now, specifically looking at September data. These are real-time insights, not just guesses.

Home Prices: Holding Steady with Modest Gains

One of the biggest questions on everyone's mind is always about home prices. Are they going up, down, or staying put? According to Realtor.com, in September 2025, the median listing price in Oklahoma City was $284,000. This shows a moderate rise from the month before. What's really interesting is the price per square foot. It increased by 0.5% compared to the previous month.

Now, why is this important? When we look at the national picture, the price per square foot actually decreased by 0.8% nationally. This tells us that here in Oklahoma City, our home prices are actually growing faster than the U.S. average right now. This isn't a sign of a bubble, but rather a reflection of steady demand in our area. It’s good news for homeowners, showing their investment is still growing in value.

Housing Inventory: A Little More Breathing Room

For a while there, finding a house in Oklahoma City felt like a treasure hunt with very few treasures. The housing inventory, or the number of homes for sale, has been a hot topic. In September, Realtor.com reported 1,802 homes for sale in Oklahoma City. This is a tiny bit less than the month before (0.1% less), which is pretty typical for this time of year. Think of it like fall – things naturally slow down a bit.

However, compared to last year, there are 16.9% more homes on the market! This is a significant increase and is a really positive sign for buyers. It means there’s more choice out there, and less competition for each house. Nationally, active inventory grew by a smaller 0.2% from the previous month, so OKC is doing a bit better in terms of supply compared to some other places.

Time on Market: Homes Selling Slower, Which is Good for Buyers

Remember those days when a house would be listed and snatched up in a weekend? While that still happens with some great properties, things have generally slowed down. In September, homes in Oklahoma City took an average of 51 days to sell. This is just one day longer than the month before, but it's seven days longer than the same month last year.

Nationally, homes were taking an average of 62 days to sell in September. This means homes in OKC are still selling quicker than the national average, but the fact that they are taking a little longer than last year is a key indicator that we're moving towards a more balanced housing market. For buyers, this means a bit more time to think, to inspect, and to negotiate without the intense pressure. This is a welcome change for many looking to buy a home.

Oklahoma City Housing Market Forecast 2025-2026

Now, let's look ahead. What does the future hold for the Oklahoma City housing market? I've been looking at some projections from Zillow and the National Association of Realtors (NAR) to get a clearer picture.

Oklahoma City Home Value Projections

Zillow gives us some detailed forecasts for our area. Currently, the average Oklahoma City home value is $240,735, which has increased by 1.1% over the past year. Homes are also going under contract relatively quickly, in about 26 days. This suggests consistent demand.

Here's a breakdown of Zillow's MSA forecast for Oklahoma City:

Forecast Date	Projected Home Value Change
October 31, 2025	+0.3%
December 31, 2025	+0.8%
September 30, 2026 (1-Year Forecast)	+2.1%

What this table tells us is that Zillow expects continued, but modest, home value growth for Oklahoma City through late 2025 and into September 2026. We're not looking at huge jumps, but a steady, upward trend. This is a much healthier pace than the rapid appreciation we saw a few years ago. It's a sign of a maturing market.

Comparing Oklahoma City to Other Areas in Oklahoma

It's always interesting to see how our city stacks up against others in the state. Here's a look at how other MSAs (Metropolitan Statistical Areas) in Oklahoma are forecasted to perform:

Region	Projected Home Value Change (Oct 2025)	Projected Home Value Change (Dec 2025)	Projected Home Value Change (Sep 2026)
Oklahoma City, OK	0.3%	0.8%	2.1%
Tulsa, OK	0.3%	0.8%	2.4%
Lawton, OK	0.5%	0.8%	2.4%
Stillwater, OK	0.4%	0.7%	1.5%
Shawnee, OK	0.6%	1.3%	3.9%
Muskogee, OK	0%	0%	1.7%
Enid, OK	0.1%	0.2%	0.1%
Ardmore, OK	0.3%	0.3%	2%
Bartlesville, OK	0.6%	1%	3.2%

From this table, you can see that Oklahoma City's forecast is quite similar to Tulsa's, with both showing steady growth. Some areas like Shawnee and Bartlesville are projected to see a bit stronger growth over the next year. Enid's forecast is very flat, while Muskogee is starting from zero growth. This variation highlights that the housing market isn't monolithic; different areas have their own unique dynamics. Generally, though, most of Oklahoma seems to be on a similar path of modest appreciation.

National Housing Market Forecast

Let's zoom out and see how the national picture looks, according to Zillow and NAR's Chief Economist, Lawrence Yun.

Key Predictions from Zillow:

• Home Value Growth Recovery: After a flat period expected in late 2025, Zillow sees home value growth recovering in 2026, potentially reaching nearly 1.9% by August 2026. This supports the idea of a stable, but not booming, market.
• Home Sales: Zillow forecasts that home sales will end 2025 at 4.07 million, which is a slight improvement over 2024. This suggests more transactions are expected.
• Rents: Rents are expected to continue cooling, showing slower growth than in previous years. This is good news for renters.

Key Predictions from NAR Chief Economist Lawrence Yun:

Lawrence Yun has a notably optimistic outlook, which I find encouraging. He believes “brighter days may be on the horizon.”

• Existing Home Sales: Expected to rise by 6% in 2025 and then accelerate by 11% in 2026. This signals a significant increase in the number of homes being bought and sold.
• New Home Sales: Projected to climb by 10% in 2025 and another 5% in 2026. This growth in new construction is vital for tackling the shortage of homes available.
• Median Home Prices: Forecasted to increase modestly, with a 3% rise in 2025 and 4% in 2026. This is a return to more sustainable and healthy appreciation.
• Mortgage Rates: Expected to average 6.4% in the second half of 2025 and then dip to 6.1% in 2026. Yun calls these rates a “magic bullet” because they greatly impact affordability and buyer demand. This dip in rates is a huge factor that could unlock more buying power.

Comparing these national forecasts to our OKC projections, it seems we're on a similar track: steady appreciation and a healthy increase in sales volume. The national outlook, especially with the projected dip in mortgage rates, is quite positive and bodes well for markets like ours.

So, Will Home Prices Drop in Oklahoma City? Can it Crash?

Based on all the data and expert opinions I've reviewed, a significant price crash in Oklahoma City is highly unlikely. Here’s why:

• Modest Growth Forecasts: Both Zillow and NAR predict continued, but modest, home price appreciation, not a decline.
• Stronger-Than-National Price Growth (Currently): As we saw from Realtor.com data, OKC prices are currently outpacing the national average in terms of price per square foot growth.
• Improving Inventory: While not overflowing, the increase in homes for sale gives buyers more options and helps prevent extreme bidding wars.
• Stabilizing Mortgage Rates: As mortgage rates are expected to ease slightly, affordability improves, which supports demand.
• Economic Fundamentals: Oklahoma City has a generally stable economy with job growth, which underpins housing demand.

The market isn't showing the signs of overheating that would typically precede a crash. We’re in a period of rebalancing after a very hot market. Think of it as the market taking a deep breath and settling into a more sustainable pace.

A Look Towards the End of 2026 and Early 2027

If we extrapolate the current trends and forecasts, here's what I envision for the end of 2026 and early 2027 in Oklahoma City:

• Continued Steady Appreciation: I expect home prices to continue their gentle upward climb, likely staying in the 2-3% annual growth range or perhaps a bit higher if mortgage rates continue to fall as predicted. This means your home's value should continue to grow, but at a pace that feels more normal and less speculative.
• Increased Buyer Activity: With mortgage rates potentially dropping below 6.5%, we could see a surge in buyer activity. This might mean a slight increase in competition, but the larger inventory should help prevent the intense frenzy of the past.
• Balanced Market: The balance between buyers and sellers should continue to improve. Homes might sit on the market for slightly longer than they did at the peak, giving buyers more negotiation power and reducing the need for impulsive decisions.
• New Construction Plays a Role: As new homes are built, they will contribute to the overall supply, which is crucial for keeping prices from skyrocketing.

Essentially, I see the Oklahoma City housing market evolving into a mature, healthy market. It's a good time to be a buyer looking for stability and a seller who understands that the market is more balanced now. It’s about finding the right home at the right price, not about trying to win a bidding war on every single property. I’m feeling pretty good about the direction things are heading. It’s going to be a market that rewards thoughtful decisions rather than hasty ones.

Should You Invest in the Oklahoma City Real Estate Market?

The Oklahoma City housing market presents a compelling opportunity for investors seeking stable, long-term returns. Here's a breakdown of the key advantages:

Affordability: A Double-Edged Sword

• Lower entry point: Oklahoma City's attractive home prices signify a smaller down payment compared to the national average. This translates to easier access to the investment market, particularly for first-time investors with limited capital.
• Boosting rental yields: The affordability factor doesn't stop there. Lower acquisition costs allow the rent you collect to represent a larger portion of the property's value. This has the potential to generate a stronger cash flow from rental income, bolstering your return on investment.

Stability Over Speculation

• Mitigating risk: Unlike markets prone to dramatic boom-and-bust cycles, Oklahoma City's consistent, yet unexplosive, growth suggests a lower risk of a sudden price decline. This translates to a potentially more stable investment, offering peace of mind for long-term wealth creation.
• Appreciation potential: The steady rise in housing prices indicates a good chance of the property value increasing over the years. This means you could potentially sell the property for a profit in the future, further maximizing your returns.

A Balanced Real Estate Market: A Strategic Investor's Playground

• Unearthing hidden gems: The rise in available properties fosters a less competitive environment. This allows you to shed the pressure of bidding wars and focus on in-depth property research. You can strategically identify undervalued opportunities with strong rental potential, potentially leading to higher returns.
• Calculated offers, not bidding frenzy: A balanced market means less competition from other investors aggressively driving prices above asking value. This allows you to make calculated offers based on the property's true market value, ensuring you don't overpay and potentially sacrificing your profit margins.

Beyond the Surface: Further Considerations

• Neighborhood Nuances: While Oklahoma City offers affordability overall, some neighborhoods might be more lucrative for investors than others. Dig deeper to identify areas with high rental demand, good schools, and potential for future development. These factors can significantly impact the success of your investment.
• Ongoing Costs: Remember to consider property taxes, insurance, maintenance, and property management fees when calculating your potential returns. These ongoing expenses can affect your overall profitability, so factor them in before making a final decision.

Investing 101: Due Diligence is Key

Remember, every investment carries some inherent risk. Before diving into the Oklahoma City market, conduct thorough research on specific neighborhoods. Understand rental rates in those areas to estimate potential income from the property. Factor in ongoing costs like property taxes and maintenance to ensure your investment remains profitable in the long run.

The Oklahoma City housing market might not be a gold rush, but for the shrewd investor seeking a reliable and affordable market with room for growth, it could be the perfect place to put your money to work. With its consistent price increases, a growing number of available properties, and a balanced market dynamic, Oklahoma City offers a solid foundation for building a successful real estate portfolio.