The Biggest Housing Questions Omaha Buyers Are Asking Right Now (With Real Data)

by Chris Jamison

You would not believe how good it feels to take a scary headline about the housing market and turn it into the kind of data that makes people visibly relax.

If you had family in town over Thanksgiving, you probably heard it all. Everything from what time the turkey should hit the oven to why someone’s cousin’s condo is “never going to sell.”

And this past week, those questions kept finding their way to me. So I figured, instead of answering them one by one, let’s put everything in one place.

Here’s your Omaha-friendly fourth-quarter housing Q&A — backed by real numbers, not headlines.

How’s the market right now?

Let’s zoom out first. Nationally, NAR reports that existing home sales ticked up 1.2% in October to a 4.10 million annual pace. Sales are also up 1.7% year over year.

The median home price nationally is now $415,200, up 2.1% from last year.

Inventory is still tight — about 4.4 months of supply — which is enough to keep prices from dropping in most places.

What this means for Omaha

Omaha is still far more stable than the national headlines suggest. Recent local trends show:

Median sale price: generally flat to slightly up year-over-year depending on sub-market
Days on market: still low compared to historical norms
Price reductions: happening, but mostly when homes are overpriced out of the gate
Inventory: rising slowly, but still well below what we’d consider “balanced”
Buyer activity: solid, especially between $225k and $375k

The short version: Omaha continues to act like the balanced-headed cousin at the family reunion. Slow, steady, predictable.

Are home values really dropping? Will this hurt my equity?

This one caught fire after Zillow published a stat that made the rounds: 53% of homes nationwide dipped in value over the past year.

Sounds dramatic. Here’s the real story:

We had six straight years of runaway appreciation. A little cooling is normal.
The average dip from peak value is 9.7%, not the 27% declines we saw after 2008.
Only 4.1% of homes are worth less than their last purchase price.
The typical homeowner has gained 67% in equity since they bought.

So yes, your Zestimate might wiggle — but your long-term equity is almost certainly just fine.

What about Omaha values specifically?

In Omaha, the dips are even milder. Most neighborhoods (Millard, Papillion, Bennington, Westside, Dundee, etc.) are still up year over year. Some segments cooled a bit, especially higher-priced homes or listings that needed updating.

But broadly, Omaha homeowners remain in a strong equity position.

I heard foreclosures are rising. Should we worry about another 2008?

ATTOM reports that 36,766 U.S. properties had foreclosure filings in October — a 3% jump from September and a 19% increase year over year.

That sounds ominous until you see the context:

Numbers today are rising from historic lows.
Foreclosure activity is still far below normal levels.
Completed foreclosures remain low — just 3,872 in October.
Some markets look elevated due to reporting delays.

We are seeing households squeezed by higher insurance premiums, taxes, and living costs. That stress is real.

But foreclosure conditions today are nothing like 2008 — not even remotely close. Safer lending, stronger equity, and better-quality loans change the picture entirely.

What’s the deal with the 50-year mortgage?

This rumor went viral because it sounds like an easy fix for affordability. Lower monthly payment, same house — sounds great in theory.

Reality check:

A 50-year mortgage isn’t legal under current federal rules.
To make it possible, the government would need to change Qualified Mortgage guidelines (they cap terms at 30 years).
A 50-year loan would grow equity painfully slowly and cost a ton in interest.

Right now, it’s political chatter — not something any Omaha lender can offer you.

What about portable mortgages? Could I take my low rate with me?

This idea has a lot of Midwestern common sense behind it. If you locked in a juicy 2%–3% rate, of course you’d want to take it with you.

FHFA says they’re studying the concept, but:

Nothing has been approved.
Most existing mortgages forbid portability in the contract language.

So for now, it’s not an option. If that changes, I’ll get the update out fast.

What should we expect in 2026?

NAR’s newest forecast for 2025 and 2026 is actually pretty encouraging:

Existing home sales up 14%
Home values up 3% in 2025, 4% in 2026
Rates easing toward 6% next year
Mortgage applications already up 31% year over year

More activity, steady price growth, and slightly better rates — that’s the trajectory.

How does this line up with Omaha?

Honestly, Omaha tends to outperform national averages. If affordability improves even a little, our steady job market and strong in-migration should spark more movement from both buyers and sellers.

If you’re planning to buy or sell in Omaha in 2025 or 2026…

I’m here to help you sort through the noise and make a plan that fits your actual life — not the headlines.

And if you’ve got a housing question this blog didn’t answer, just reach out. I’m always happy to talk it through.