Tulsa Housing Market Update: October 5, 2026
TULSA, OK, October 5, 2026 — A verified permanent builder rate of 5.50% now sets the payment bar that renovated resales must meet.
Resale Market
Observed facts: Monthly listing data from a national listing portal for the Tulsa metro cover all single-family, condo and townhome listings, not only 3-bed, 2-bath houses.
| Metric (all home types, Tulsa metro) | Sep 2026 | Aug 2026 | Month change | Year change |
|---|---|---|---|---|
| Median asking price | $329,500 | $334,995 | -1.6% | +1.8% |
| Active listings | 3,462 | 3,355 | +3.2% | +3.9% |
| Pending listings | 1,403 | 1,491 | -5.9% | -5.5% |
| Listings with a price cut | 1,546 | 1,400 | +10.4% | +13.3% |
| Median days on market | 60 | 56 | +7.1% | +7.1% |
- Share of active listings with a price cut: 44.7%, compared with 41.7% in August and 40.9% a year earlier.
- These are asking prices, not closed-sale prices.
Interpretation: This September is softer than the last one. That pattern indicates price-sensitive demand and growing seller flexibility. A 1.8% annual gain in the median asking price does not support a finding of broad price deterioration.
Sources: FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed) · FRED (St. Louis Fed)
New-Build Competition
Observed facts: No authoritative closed new-home sale price for the Tulsa metro was found this week. Official builder pages give only a partial picture:
- Two D.R. Horton Brook Chase quick move-in homes show reductions: $319,990 to $304,900 (-4.7%) and $336,490 to $324,900 (-3.4%).
- At D.R. Horton's Maybelle Villas in Tulsa, a 3-bed, 2-bath home is listed at $464,400, down from $507,900 (-8.6%).
Interpretation: Production builders are cutting asking prices on finished homes in the $300,000 range and pairing those homes with financing offers. That puts direct pressure on renovated resales in the same price band.
Sources: drhorton.com · drhorton.com · butlerhomesllc.com
Verified Builder Incentives
| Builder / community | Offer | Rate type and loan | Published terms | Not publicly disclosed—verification required |
|---|---|---|---|---|
| D.R. Horton, Brook Chase and Maybelle Villas | 5.50% rate, 6.212% APR, through DHI Mortgage | Permanent 30-year fixed; FHA, also VA and USDA | 3.5% down; must close by 11/30/2026; select homes; may not combine with other offers; points may be required | Minimum credit score; exact points and fees |
| Butler Homes, Huntington Park II | Up to $10,000 in closing costs and rate buydown | Not publicly disclosed—verification required | Select listed homes only | Rate, buydown term, lender, expiration |
- Up-to amounts are maximums, not terms every buyer will receive.
Sources: drhorton.com · drhorton.com · butlerhomesllc.com · capitalhomes.com
Builder-Versus-Resale Payment Comparison
Payment-equivalent price is not the builder home’s contract price, appraised value, taxable value, or buyer equity.
Assumptions: conventional loan, 5% down, 30-year fixed, principal and interest only, a $300,000 new build, and the Freddie Mac 30-year fixed average of 7.28% (October 1, 2026) for the resale. The table is partly illustrative: the builder rates are scenarios, not current offers, except 5.50%, published by D.R. Horton (DHI Mortgage); FHA 30-year fixed, also VA and USDA; 3.5% down; must close by 11/30/2026 for Brook Chase, Broken Arrow.
| Builder rate | Monthly P&I | Equal-payment resale price | Difference | Effective gap |
|---|---|---|---|---|
| 4.99% | $1,528 | $235,107 | $64,893 | 21.6% |
| 5.49% | $1,616 | $248,678 | $51,322 | 17.1% |
| 5.50% | $1,618 | $248,953 | $51,047 | 17.0% |
| 5.99% | $1,707 | $262,597 | $37,403 | 12.5% |
| 7.28% (market) | $1,950 | $300,000 | $0 | 0.0% |
The 15% thesis, tested this week: a $255,000 resale at 7.28% costs $1,658 a month in principal and interest. A $300,000 new build reaches that payment only at a permanent rate of about 5.72%, roughly 1.56 percentage points under the market rate. The deepest scenario above (4.99%) is worth 21.6% of the price, above the 15% gap between $300,000 and $255,000.
Loan amount in every row: $285,000 (95% of $300,000).
- Builder closing-cost credits reduce the cash needed at closing but do not lower monthly principal and interest.
- Temporary buydowns lower payments only in the early years and should not be valued like a permanent rate.
- The verified builder rate above is an FHA offer, so the conventional comparison here is illustrative.
Sources: Freddie Mac
Delist and Relist Tracker
No withdrawn, canceled, expired or relisted 3-bed, 2-bath-or-larger detached house could be verified through public listing histories this week. The baseline carries forward to next week.
Rental and Investor Conditions
Observed facts: A national rental portal shows a median 3-bedroom asking rent of $1,500 in Tulsa, down 1% over 30 days and up 3% over the year, with 550 rentals listed.
Interpretation: Flat-to-modest rent growth combined with a 7.28% mortgage benchmark keeps cash flow tight on financed rental purchases, likely leaving renovated resales more dependent on owner-occupant buyers.
Sources: zumper.com · Freddie Mac
Financing Conditions
Observed facts: Freddie Mac's 30-year fixed average was 7.28% on October 1, 2026, up from 7.03% the prior week and from 6.34% a year earlier.
Interpretation: Higher conventional rates widen the gap between builder-subsidized financing and ordinary resale financing.
Sources: Freddie Mac · FRED (St. Louis Fed)
Market-Level Distress Signals
Observed facts: ATTOM's August 2026 foreclosure report counted 40,277 U.S. properties with foreclosure filings, up 13 percent from a year earlier, with no Oklahoma or Tulsa figures. The Tulsa County Sheriff holds property auctions every Wednesday.
Interpretation: There is insufficient information to determine a local trend.
Sources: attomdata.com · Tulsa County Sheriff's Office
Regulatory and Tax Developments
- State Question 847 will be on the statewide ballot on November 3, 2026. If approved, it would lower the annual assessment cap for homestead and agricultural property from 3 percent to 1.75 percent beginning in 2027. It has not been enacted, so no tax savings should be built into budgets or pricing.
Sources: okpolicy.org
Ranked Actionable Implications
- Sellers: Price a renovated 3-bed, 2-bath resale against builder monthly payments, not just builder list prices. If a home has no offer after 60 days, either cut the price or fund a permanent rate buydown for the buyer.
- Buyers: Before choosing new construction, get written loan estimates for both the builder's financing and an outside lender at the same down payment. Choose the builder home only if its full monthly payment comes out lower.
- Investors and renovators: Underwrite resale exits using the September median asking price of $329,500 and a 60-day median market time rather than spring figures, and leave State Question 847 savings out of projections until it passes.
Market information is general, based on publicly available asking-price and listing data, and is not a property-specific valuation or guarantee.
About Top Dollar Home Offer
Top Dollar Home Offer is a family-owned real estate investment company in Tulsa, Oklahoma. The father-and-son team of Bucky and Cove Cordray buys houses directly from their owners in as-is condition across Tulsa County and the surrounding communities, including inherited, vacant, tax-delinquent and pre-foreclosure properties, and publishes guides for homeowners facing those situations at TopDollarHomeOffer.com.
Media contact
Bucky Cordray, Founder
Top Dollar Home Offer
1831 E 71st St #4244, Tulsa, OK 74136
(918) 212-5442 · TopDollarHomeOffer.com · [email protected]
