P
resident-elect Donald Trump's return to the White House may bring significant shifts to the housing market in Oklahoma and nationwide, according to Realtor.com's 2025 housing forecast. The real estate website's economic research team notes that during his previous presidency, Trump pushed for tax cuts, deregulation, and policies to spur economic growth. If similar policies are enacted this term, it could majorly impact mortgage rates, new home construction, and more.

    Experts predict a "Trump bump" is possible but gradual growth is more likely. Realtor.com's chief economist Danielle Hale says the size and direction of a Trump bump will depend on what campaign proposals become policy and when. For now, they expect a gradual improvement in housing market dynamics powered by broader economic factors.

    The forecast predicts national real estate trends, including home sale prices growing 3.7%, mortgage rates staying above 6%, and rents remaining stagnant with a 0.1% decrease. Inventory of single-family homes is expected to grow by 13.8%, and existing for-sale home inventory will increase by 11.7%.

    In Oklahoma, the housing market is expected to be shaped by several positive trends, including a competitive market, growth rate remaining moderately positive, and economic conditions. The Luxury Playbook forecasts that home prices will continue an upward trend of 4% annually over the next two years, increasing the median home price from $260,000 to $266,750 by 2025.

    However, the inventory shortage is expected to remain persistent, particularly in the mid-range and affordable segments. This could be addressed through accelerated construction in the affordable housing sector. For renters, a 3% to 4% annual increase is predicted, making the average rent $1,133 to $1,144 per month.

    Mortgage rates are forecasted to remain slightly changed in 2025, averaging 6.3% throughout the year and ending at 6.2%. This would be down from the 6.7% average expected across 2024 but well above the 4% average between 2013 and 2019.

    While Presidents have little control over mortgage rates, economic trends can influence them. Strong job markets, high inflation, or increased government deficits often push interest rates higher. However, if Trump delivers strong economic growth that boosts incomes, it could make homes more affordable.