Want to buy a home this summer in Raleigh but unsure if the timing is right? You’re not alone—many buyers are waiting to see how the market unfolds. But savvy buyers are recognizing a unique opportunity:
This summer could be one of the most advantageous times to buy a Triangle area home in years. Here are three compelling reasons why.
1. You Have More Negotiating Power
After several years of sellers dominating the market, the tide is beginning to turn. According to Redfin data, there are now more sellers than buyers in the market:
From 2021 through 2023, the number of buyers far outpaced the supply of homes, leading to intense bidding wars and rapid price increases.
But today, the dynamic has changed. With more sellers than buyers, buyers have regained leverage. This means sellers may be more open to negotiating on price, making repairs, or covering closing costs. This shift signals a return to a healthier, more balanced housing market. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), puts it:
. . . with housing inventory levels reaching five-year highs, homebuyers in nearly every region of the country are in a better position to negotiate more favorable terms.”
And just in case you’re worried there are too many homes on the market, here’s what you should know. Overall inventory is still lower than normal, so you don’t have to worry about a nationwide oversupply or a crash.
2. You Have More Choices
The number of available homes in the Triangle area has seen a strong boost. According to the latest from Realtor.com, more homes were listed this May than during the same time in both 2023 and 2022 (see graph below):
More listings mean more options for buyers. That dream home you’ve been waiting for might already be on the market—or it could show up soon. As Jake Krimmel, Economist at Realtor.com, explains:
With more fresh inventory hitting the market, buyers have better opportunities to find a home that fits their needs.”
3. You May See More Flexibility on Price
As inventory rises, homes are no longer flying off the market like they were a few years ago.
Since homes are sitting on the market longer, some sellers are reducing their asking prices to attract buyers and speed up the sale. In fact, reports show that 19.1% of listings saw a price cut this May:
That marks the fifth consecutive month of increased price reductions, bringing price cut activity back to normal levels. It’s another indicator that the market is becoming more balanced.
While you shouldn’t count on major discounts, you might find that sellers are more open to negotiation. As The Street recently noted:
Although sellers have had the upper hand in the housing market over the past few years, houses are now staying on the market for longer, shifting negotiating power back to homebuyers.”
Just keep in mind, most sellers are sticking to their asking price—those cutting prices often started too high to begin with. This isn’t a market crash; it’s a correction of unrealistic pricing expectations.
Bottom Line
This summer presents a unique mix of benefits for buyers: more inventory, reduced competition, and increased price flexibility. If you’re thinking about making a move, now could be the perfect opportunity to buy a home this summer. Contact Linda Craft Team Realtors to find out why this season might be the ideal time.