3 Takeaways From Oklahoma Loan Specialist On 2025 Housing Market

With 2024 coming to a close, it's been a wild ride filled with inflation and economic changes. A home loan specialist with the Bank of Oklahoma is predicting what the housing market and interest rates will look like in 2025. 

Tanya Bates with BOK hopes 2025 will give those in the housing market a better position and a decline in interest rates. This would make things easier for Oklahomans who want to buy a house. 

Availability is Here

There is more inventory on the market compared to last year with a 30 percent increase in homes on the market, according to Bates. 

"It really is a win-win situation because buyers have more options and sellers have more people looking to buy their house," said Bates. 

Rates Coming Down

BOK's financial experts see forecasts change each month but believe interest rates will be stable and come down next year. This is where things can shake up in the housing market. 

"When rates come down it increases demand," said Bates. "As demand increases oftentimes you'll see home prices increase." 

Living in Oklahoma herself, Bates advises using a local lender or relator to help navigate the housing market opportunities as they are experts for the area and study the market. She believes our state is a great place for both buyers and sellers to be. 

"We are really fortunate to live in Oklahoma in this area of the country where homes are affordable and jobs are plentiful," said Bates. 

The Time Is Now 

Bates recommends for Oklahomans in the market for home buying or selling to act sooner rather than later. 

"There's this idea that the interest or mortgage rate needs to be a certain level," said Bates. "I always say the perfect time is now."