You’d be amazed how satisfying it is to take a scary housing headline and replace it with real numbers that make people visibly de-stress.

If you had family in town for Thanksgiving, you probably heard it all:
“When are prices finally going to drop?”
“Are foreclosures back?”
“Should we just wait until 2026?”

I’ve been getting a lot of those questions lately, so I pulled the freshest data and turned it into a simple Q&A you can actually use. Let’s start big-picture, then zoom into the Oklahoma City metro and Edmond.

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1. So… how’s the housing market really doing?

National snapshot

According to the National Association of REALTORS® (NAR):

• Existing home sales in October rose 1.2% to a 4.10 million annual pace.
• Sales are up 1.7% compared to one year ago.
• The median home price hit $415,200, about 2.1% higher than last year.
• Inventory sits at 4.4 months of supply, which keeps prices from falling sharply even when demand cools.

In plain English:
We’re not in a boom, but we’re not in a crash either. The market is moving, just at a more normal, sustainable pace.

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2. What’s happening in the Oklahoma City Metro and Edmond?

Think of our local market as “almost balanced,” with some areas still leaning seller-friendly and others finally giving buyers some leverage.

Oklahoma City Metro (overall):

• Prices: Essentially flat to slightly up compared to last year.
• Inventory: Up double digits versus 2024, which means more choices for buyers.
• Days on Market: Homes are taking longer to sell than they did a year ago.
• Negotiation room: Most homes close around 98–99% of asking price.

Edmond (and North OKC/Deer Creek move-up & luxury):

• Edmond median sold price: Around $370k+, up mid-single digits year-over-year.
• Edmond asking prices: Median list prices have eased a bit—down a few percent from last year—as sellers adjust to reality.
• Days on market: Up about 20% versus last year; think 5–8 weeks instead of 2–3.
• Inventory: Up roughly 20–30% in many pockets, especially at higher price points.

Big picture for OKC / Edmond:

• Under roughly $250,000: Still tends to behave like a seller’s market—good homes move quickly.
• Move-up and luxury (North OKC, Deer Creek, Edmond): Much more balanced, sometimes even buyer-leaning if a home is over-priced or needs work.

This is why you’ll see some homes fly off the market while others sit: it’s all about price, condition, and location relative to today’s buyers—not last year’s.

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3. Are home values really dropping? Is my equity in danger?

This question exploded after Zillow shared a stat that went everywhere: about 53% of homes nationwide have dipped a bit from their recent peak value.

That sounds scary… until you look under the hood:

• Values soared for six straight years. A little give-back after that kind of run-up is normal.
• The average drop from peak is about 9.7%, nowhere near the 27%+ declines after the 2008 crash.
• Only about 4.1% of homes are worth less than their last purchase price. That means 95.9% of homeowners still have equity.
• The typical homeowner has seen about a 67% increase in value since they bought.

So if your Zestimate wobbles a bit, that doesn’t mean your financial future is in trouble. Unless you have to sell at the exact wrong moment, small price bumps are just normal market noise.

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4. I heard foreclosures are rising. Is this another 2008?

You’re not imagining the headlines. ATTOM’s latest report shows:

• 36,766 properties with foreclosure filings in October.
• That’s up 3% from September and 19% from one year ago.
• It’s also the eighth straight month of year-over-year increases.

But here’s what those headlines usually leave out:

• We’re rising from an extremely low starting point.
• Even after the recent increases, foreclosure activity is still well below normal pre-2020 levels.
• Completed foreclosures (where a lender actually takes back the home) are very low—just 3,872 properties in October.
• In some places, higher numbers are partly due to backlogged cases finally hitting the system, not a sudden wave of distress.

At the same time, families are feeling squeezed:

• Insurance premiums are higher
• Property taxes have climbed
• Everyday costs are rising faster than many incomes

So it’s fair to say the economy feels tight, even though the housing system itself is much healthier than it was in 2008. Loans are better underwritten, owners have more equity, and most people could sell long before they’d ever reach foreclosure.

Short answer:
This is not 2008. The stress is real, but the structure of the market is very different.

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5. What’s going on with those “50-year mortgages” I keep hearing about?

This idea went viral because it sounds like a magic wand: stretch payments over 50 years, and poof—lower monthly payment.

The reality:

• A true 50-year mortgage isn’t currently allowed under federal rules.
• To exist, lawmakers would have to change the Qualified Mortgage (QM) rule, which caps mortgages at 30 years.
• Even if 50-year loans became legal, they’d come with trade-offs:
  • You’d build equity more slowly
  • You’d pay a lot more interest over the life of the loan

Right now, a 50-year mortgage is more of a talking point than an actual product. It’s not something a typical lender can just roll out tomorrow.

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6. Could I ever keep my low rate if I move? (Portable mortgages)

This is the idea everyone with a 2–3% rate loves: take your existing loan and move it to your next house.

A “portable mortgage” would let you:

• Keep your current interest rate and loan,
• Apply it to a new property instead of starting over.

Regulators (like FHFA) have said they’re studying the idea. But there are hurdles:

• Most existing mortgages are written to exclude portability.
• It would require big changes to how loans are written, sold, and serviced behind the scenes.

So for now:

• Your lender cannot move your current mortgage to a new home.
• If that ever changes—or something better comes along—you can bet I’ll be shouting it from the rooftops.

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7. What should we expect heading into 2026?

The newest forecast from NAR is cautiously optimistic about the next couple of years:

• Existing home sales are expected to increase about 14%.
• Home prices are projected to rise roughly 3% by the end of 2025 and another 4% in 2026.
• Mortgage rates are expected to drift from around 6.7% this year closer to 6% next year.
• Mortgage applications are already up about 31% year-over-year, which hints at pent-up buyer demand.

Put together, that suggests:

• More buyers back in the game
• Prices rising at a calmer, more sustainable pace
• Rates that are better than 2023–24, even if they don’t go back to the 3% glory days

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8. What does this mean if I’m buying or selling in the OKC Metro?

If you’re thinking about selling:

• Expect 4–8 weeks on the market to be normal, not a problem.
• Pricing based on the last 60–90 days, not last spring, is crucial.
• Homes that are move-in ready and well-priced can still sell quickly and strongly.
• In Edmond, North OKC, and Deer Creek, there’s more competition—presentation, strategy, and realistic pricing matter more than ever.

If you’re thinking about buying:

• You have more choices and often some negotiation room, especially in the move-up and luxury ranges.
• Under about $250,000, things can still feel competitive.
• With rates in the low 6s, payments are higher than the 3% era—but you’re also not fighting 15 offers on day one anymore.
• Seller concessions (closing cost help, rate buydowns) are more common than any time since 2020.

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The bottom line

The Oklahoma City metro has shifted into a near-balanced market:

• Prices: flat to modestly up, not crashing
• Inventory: up, giving buyers more options
• Pace: slower and saner, with normal days-on-market
• Negotiation: 2–3% wiggle room on many properties, more on stale listings

Edmond, North OKC, and Deer Creek are still high-demand, high-appeal areas, but the days of “multiple offers by Monday no matter what” are over. Buyers now have choices, and sellers who price smart and prepare well can still do very, very well.

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If you’re trying to make sense of your own situation—whether that’s a move in the next few months or just planning ahead for 2026—I’m always happy to talk through it with you.

Got a question this Q&A didn’t cover? Send it my way, and I’ll use real data (not headlines) to walk you through your options.