Spring is the busiest time of year for real estate, but what will the housing market look like this year in the Triangle?
If you’ve been waiting for the housing market to cool, we may finally see some moderation, but not necessarily deals. The average long-term US mortgage rate slipped last week below 6% for the first time since late 2022.
About one in 10 homeowners in Wake County is 35 or younger, Triangle MLS data shows.
“I’m going to rent another year because there’s no way I can do this,” said Wake County resident Emil Munoz.
Triangle MLS data shows 3,528 active listings in January 2026 in Wake County. That is 20.9% more houses available than in January 2025.
Wake County’s median home price in January 2026 was $450,000, down 4.3% from January 2025, Triangle MLS data shows.
Triangle MLS data shows the median days on the market for a Wake County home was 46 days, which is 24.3% higher than last year.
“It’s one of the funnest markets I’ve worked in, in 11 years in real estate,” said Madigan Realty Co. owner. Patrick Madigan.
WRAL 5 On Your Side asked marketer Anne Godwin if it’s a buyer’s market, a seller’s market or something in between.
“We are seeing two different things at the same time,” Godwin wrote. “Some buyers are negotiating good news, buying below cost and getting into equity at closing time.
“Some homes – especially well-priced, move-in ready homes in prime locations – are still attracting more traffic and more offers.”
Godwin said he had a list that receives 30-plus shows the first week and sells for $80,000 over list price with multiple offers.
“It’s a stable market, but it’s like a seller’s market for real estate and a buyer’s market for another,” Godwin wrote. “That’s why strategy is more important now than at any time in the last few years.”
WRAL 5 On Your Side asked realtor Liz Brown what advice she would give to buyers waiting for interest rates to drop.
“[I’ve] he always advised clients to make decisions based on life expectancy, not interest rate,” Brown said.
That is what Godwin said.
“Don’t wait for interest,” Godwin wrote. “No one can really time the market – and historically, when prices fall, the buyer wants to move up quickly, especially in an already competitive market like ours.
“This means more competition, more supply, and higher purchase prices.”
Godwin said the greatest demand in the Triangle is in lifestyle areas and in western Wake County. It includes the inner belt in Raleigh, North Hills, Midtown, Cary, Apex, Holly Springs and parts of Wake Forest.
“These areas attract buyers who are moving, have strong schools, and are either commuters or new homes – so affordable homes are still moving fast,” Godwin wrote.
Realtor Brian Holt said he has buyers getting good deals in Wake Forest, Knightdale and Wendell because of new construction in the area.
Godwin suggested that some vendors made mistakes in pricing and display.
“Consumers are very savvy in today’s market,” Godwin wrote. “Homes need to be well maintained from day one and fully buttoned up — clean, organized, updated where needed and well photographed.
“If a home misses the mark on price or condition, it just won’t last…it’ll be condemned and end up selling less later.”
Godwin also recommended that buyers interview multiple agents before deciding on one. He said it was a very different market compared to 2022. Here’s how he compared the years.
· 2022: More competition, more costs, faster faith and consumers had less bargaining power.
· 2025: Change of year – high prices brought things down and inventory started to build.
· 2026: Increased stability and health. Consumers have options as well, but prices are still rising because demand remains strong.
“Even though the craziness is gone, the bottom line hasn’t changed — people still want to live here,” Godwin wrote. “We are no longer in a seller’s market, but we are far from a recession. It is a stable growth market with opportunity on all sides.”
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