Thought the Market Passed You By? Think Again.

For Buyers, First-Time Buyers, Inventory, Buying Tips

If you stepped back from your home search over the past few years, you’re not alone — and here in the Omaha metro and surrounding communities, you definitely still have options. In fact, now may be one of the best times in a while to take another look.

Across Omaha, Papillion, Bennington, Elkhorn, Lincoln, and Council Bluffs, buyers are starting to see something they haven’t had much of recently: choices. Inventory has grown compared to last year, bidding wars have cooled in many neighborhoods, and mortgage rates have eased from their recent highs. All of that is creating a more balanced, buyer-friendly environment.

Experts agree buyers are in a stronger position than they’ve been in years — and we’re seeing that play out locally.

Affordability Is Finally Improving

Affordability has been a big hurdle over the last few years, especially as prices climbed quickly in popular areas like West Omaha, Elkhorn, Bennington, and parts of Lincoln. But that pressure is starting to ease.

As Bright MLS Chief Economist Lisa Sturtevant explains:

“Slower price growth coupled with a slight drop in mortgage rates will improve affordability and create a window for some buyers to get into the market.”

Locally, home prices aren’t dropping across the board — but they’re stabilizing. Combined with slightly lower rates, that means monthly payments are becoming more manageable, particularly for first-time buyers and move-up buyers who felt priced out before.

There Are More Homes to Choose From

One of the biggest shifts buyers are noticing in Omaha, Papillion, Bennington, Elkhorn, Lincoln, and Council Bluffs is simply this: there are more homes for sale.

Nationally, Realtor.com reports there are 17% more homes on the market than this time last year. Locally, that translates to:

More listings hitting the market each week
Homes staying active longer instead of selling in a weekend
Less pressure to waive inspections or appraisal protections

NAR Chief Economist Lawrence Yun puts it this way:

“Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price.”

While inventory in the Midwest is still tighter than pre-pandemic levels, it’s meaningfully better than it was a year or two ago. That means buyers here are seeing more variety — whether that’s a starter home in Papillion, a newer build in Bennington, a larger yard in Elkhorn, or more affordable options across the river in Council Bluffs.

Negotiation Is Back on the Table

This isn’t the market of 2021, when everything sold over list price with no contingencies. Today, with more homes for sale and fewer buyers competing, sellers are more open to:

Price adjustments
Closing cost credits
Repair negotiations
Longer timelines

That shift gives buyers leverage — especially when they’re working with a local expert who understands how conditions vary from neighborhood to neighborhood.

What’s happening in West Omaha may look different than downtown Lincoln or Council Bluffs, which is why local insight matters more than ever.

Thinking About Jumping Back In?

If you paused your search because it felt too competitive, too expensive, or just overwhelming, this could be the right time to revisit your plan.

And if you’re not quite ready to buy today, that’s okay too. Getting prepared now — understanding your budget, exploring neighborhoods, and staying on top of new listings — puts you in a strong position when the right home comes along.