REAL ESTATE HIGHLIGHTS
VALUE OF CONSTRUCTION PROJECTS According to Dodge, in 2025, the total construction value of tracked contract projects (residential, non-residential, and non-building infrastructure) in the Oklahoma City MSA was $4.79 billion. That was 5% below the prior year (2024). The largest positive year-over-year percentage gains were found in the hotels & motels, manufacturing, stores and restaurants, warehouses, religious buildings and office & bank building categories. The largest year-over-year declines in the construction value of contracts were in dormitories, hospitals & other health treatment, dams/reservoirs/river development, streets & highways, bridges, amusement & recreation, parking garages, and government service buildings. For 2026, Dodge forecasts total construction value of contract projects in the Oklahoma City MSA to increase by 12%, considerably higher than the 0% forecast for the nation. For Oklahoma City, the 2026 Construction value of contracts is expected to grow in both non-residential (22%) and non- building (12%) sectors. The Non-Building sector includes bridges, streets, water supply systems, sewers and other. Flat or zero percent growth is expected in the values of residential infrastructure projects.
RESIDENTIAL HOUSING MARKET According to Dharma, a third-party aggregator of housing start data, the portion of the Oklahoma City metro that it tracks recorded 5,157 housing starts in 2025. This was 13% above the prior year. While mortgage rates remained elevated, housing starts in 2025 were at the highest level since 2022 (5,213). Over the past five years (2021-2025), 26,019 housing starts were captured in the Oklahoma City metro (an annual average of 5,203). More than 24,000 closed sales, 24,500 pending sales, and 34,000 new listings were reported for the OKC metro. The MLSOK Annual Report showed that 2025 home prices in the Oklahoma City metro were up compared to last year. The preliminary overall median sales price increased 3% to $262,900 for the year. Average Sales Price increased by 5% to $317,189. The number of homes available for sale was up 27% over prior year. There were 7,894 active listings at the end of 2025.
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2026 ECONOMIC OUTLOOK
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