If you’ve felt like finding the right home in the Triangle area has been nearly impossible over the past few years, you’re not alone. But things are starting to shift—and in a good way.
Across the country, housing inventory is rising, which means more options for buyers. Still, that growth isn’t happening evenly everywhere, which is why local market expertise is so important. Here’s a look at what’s happening with inventory and what it means for your move.
Inventory Is Climbing Nationwide
According to Realtor.com, the number of homes for sale is up significantly in all regions of the country—by at least 19% year-over-year. In the West, it’s jumped nearly 41%. That’s a big change and a promising sign for homebuyers.
- More homeowners are listing their homes. After waiting for mortgage rates to drop, many sellers have decided not to hold off any longer. In fact, this May had more new listings than any May over the last three years.
- Homes are staying on the market longer. In May, the average home took 51 days to sell, closer to the pace we typically saw before the frenzy of the last few years. This slows turnover and builds up inventory over time.
Together, these factors are helping the market shift toward a healthier balance. It’s not quite a buyer’s market yet, but we’re moving away from the intense seller’s market of the past few years. As Danielle Hale, Chief Economist at Realtor.com, puts it:
The number of homes for sale is rising in many markets, giving shoppers more choices than they’ve had in years . . . the market is starting to rebalance.”
Local Inventory Varies Market to Market
Even though national numbers look promising, inventory growth isn’t equal everywhere. Some markets are nearly back to pre-pandemic norms, while others are still catching up.
When comparing today’s inventory to the more typical housing years from 2017 to 2019, we can see that some regions are approaching normal levels (marked in green), while others are still lagging behind (marked in red).
That’s why it’s essential to rely on a local real estate agent who understands the specifics of the Triangle area. They’ll help you understand current inventory levels and tailor your home search accordingly.
The good news? You likely have more options now than you did a year ago. That can make your Raleigh home search smoother and give you more breathing room to find the right fit. But because conditions vary by location, working with a knowledgeable local agent is key to understanding what’s really available in your market.
Bottom Line
Inventory is improving, but how quickly it returns to normal depends on where you’re buying. Contact Linda Craft Team Realtors about what the trends look like in the Triangle area and how they can guide your next move.
Your Turn: Have you noticed more homes hitting the market in your area? What feels different now compared to a year or two ago?