If you’ve seen the headlines lately, you’ve probably noticed a wave of stories about record price cuts across the U.S. Zillow’s newest analysis shows the typical October listing saw a cumulative $25,000 reduction — tying the largest ever recorded. Big metros like San Jose, Los Angeles, and New York all posted dramatic cuts, some as high as $70,000.

But here’s the part the headlines forget:
📍 Oklahoma City is one of the strongest and most stable markets in the country right now.

And to show you what buyers are feeling, let me share a message I received just yesterday from a couple looking at a home in Muirfield:

“We are a cash buyer for this house. We just don’t want to lose a lot when we sell our current home. It seems prices are going down. We could close as quickly as title work is completed. Just read an article saying home prices may take a hit like 2008. And our neighbor listed for $100,000 less than we thought. We’re bean counters 😎🍷.”

If you feel this way too, you’re not alone.
Let’s break down what’s really happening.

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Nationally, Price Cuts Are Increasing

Across the U.S., more sellers are adjusting their prices as homes take longer to sell. Some key highlights from Zillow’s report:

• 26.9% of listings saw a price cut in October
• The typical individual price cut: $10,000
• High-value markets are posting the biggest drops (San Jose, San Francisco, LA)
• Lower-cost markets are seeing deeper cuts as a percentage of home value
• Improved affordability is bringing more buyers back into the market

It’s a shift toward balance — not a collapse.

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But Oklahoma City Is the Outlier (In the Best Way)

While some metros are trimming tens of thousands off their prices, OKC is showing remarkable resilience. According to Zillow:

OKC has the smallest cumulative price cuts in the nation.

➡️ $15,000 on average
(Compared to $70,900 in San Jose)

OKC has the smallest individual price cuts in the nation.

➡️ Just $6,000 per reduction
(Again, the lowest in the U.S.)

What this means for you

• Sellers here aren’t slashing prices
• Buyer demand is steady
• Homes are still moving at reasonable timelines
• Prices are adjusting, but lightly and sensibly

This is the definition of a healthy market.

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Why This Doesn’t Look Anything Like 2008

A lot of people — including the buyer who texted me — are wondering whether today’s price cuts signal something bigger.

Here’s the simple answer:
No. This is not 2008. Not even close.

Here’s why:

1. Most homeowners have significant equity.
   Even with a small price cut, they still walk away profitable.
2. Loan quality is dramatically stronger.
   Lending standards today look nothing like the pre-crash era.
3. Inventory is low, not overflowing.
   Back then we had too many homes. Today we have too few.
4. Affordability is improving.
   That’s drawing buyers into the market, not out of it.
5. Oklahoma City’s fundamentals are stable.
   High job growth, steady population growth, and realistic pricing keep the market grounded.

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Why Buyers Feel Uncertain (and Why That’s Normal)

The text I received says it perfectly: when buyers hear “price cuts” and see a neighbor list lower than expected, emotions kick in.

But here’s the truth:
📊 Prices aren’t falling in Oklahoma City — they’re simply normalizing.

A market that went two years without breathing is finally… breathing.

If you’re buying, this means:

• You may not see huge discounts, but you will see fairness
• Sellers are realistic
• Offers with strong terms (cash, quick close) carry real weight

If you’re selling, this means:

• Correct pricing on day one still matters
• You don’t need to chase the market down
• Small adjustments are enough to keep buyers engaged

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Bottom Line: The Local Story Matters More Than the National One

National headlines are loud.
Local data is clear.

And Oklahoma City’s story right now is one of balance, strength, and stability.

So whether you’re a “bean counter” running spreadsheets or just someone watching the market from the sidelines, here’s your takeaway:

👉 Price cuts may be making news — but OKC is holding steady.
And your next move should be based on local numbers, not national noise.

If you want to talk through what this means for your home or your plans, I’m always here with the data and a clear explanation.