July 2022 Omaha Real Estate Market
The Omaha, Nebraska real estate market is still hot. While the national housing market has seen a slight decline in prices, the Omaha market continues to see growth and a rise in sales volume. As of March of 2020, there are just over 1,100 homes on the market in Omaha, NE and there have been over 2,500 sales this year alone.
Mortgage interest rates have remained low throughout much of 2019 and 2020, but they are expected to increase later this year or early next year as the Federal Reserve begins raising rates again. These rate hikes will impact buyers’ ability to afford a home purchase, so now is the time to get into the market if you want to lock in those low rates!
Supply is still an issue nationally—there simply aren’t enough homes available for sale—and it’s also an issue locally in Omaha. There simply aren’t enough homes available for sale in Omaha at any price point or price range. So if you’re looking for something specific (like a new build), be prepared for a long wait.