Raleigh Housing Market: Trends and Forecast 2025-2026

Thinking about buying or selling a home in the Raleigh area? Right now, the Raleigh housing market is showing signs of slowing down a bit compared to last year, with prices holding steady and homes taking a little longer to sell. Looking ahead to 2025, we're expecting a slight dip in prices early on, followed by a gradual recovery. Let's dive in and break down what's going on.

Raleigh Housing Market Trends: What's Happening Now in 2025?

Home Prices in Raleigh: Holding Steady, But Not Skyrocketing

Let's talk about the big one: home prices. According to Realtor.com, in September, the median listing price in Raleigh was $475,000. That means half the homes listed were priced higher, and half were priced lower. What's interesting is that this price is pretty much the same as the month before. This isn't a huge jump or a big drop; it's more like things are staying put for now.

When we look at the price per square foot – which is a good way to compare homes of different sizes – it actually dipped a tiny bit, by 0.4%, in September compared to August. This is pretty common for September. Even more interesting, nationally, the price per square foot went down by 0.8%. So, while prices are softening a little everywhere, Raleigh is seeing a smaller dip than the rest of the country. This tells me our market is still pretty resilient.

Housing Inventory: More Homes, But Selling Slower

So, what does this mean for the number of homes available – what we call housing inventory or supply? In September, Realtor.com reported that there were about 1,908 homes for sale in Raleigh. This is a 3.2% increase from the month before. That's good news for buyers because it means there are more options out there!

Compared to last year, there are significantly more homes on the market – a whopping 36.8% increase. This is a pretty big jump and definitely a sign that things are changing from the super-hot market we saw before.

Nationally, the number of homes for sale also went up, but only by a small 0.2% in September. So, again, Raleigh is seeing a bigger shift in inventory than the national average. More homes mean a little less pressure on buyers, which can be a good thing.

Time on Market: Homes Are Taking a Little Longer to Sell

Remember those days when homes were flying off the market in a weekend? Well, in Raleigh, that's not quite the case anymore. In September, homes were taking an average of 58 days to sell. That's one day longer than the month before and six days longer than last year.

This “days on market” number is a key indicator of whether it's more of a buyer's market or a seller's market. When homes sell super fast, sellers have the upper hand. When they sit on the market longer, buyers have more time to think, negotiate, and make offers. Right now, with homes taking longer to sell, it’s leaning a bit more towards a buyer's market, or at least a more balanced market. Nationwide, homes were taking an average of 62 days to sell in September, so Raleigh is still selling homes a little faster than the national average.

Raleigh Housing Market Forecast 2025 and 2026

Now, let's look into the crystal ball a bit. What do experts think will happen in the Raleigh housing market?

Short-Term Outlook: A Slight Dip Expected

Zillow's data gives us a peek into the near future. Their forecast for Raleigh shows that the average home value is currently around $439,338. This is actually down 2.3% over the past year. Homes are still selling, but they're taking about 30 days to go pending, which aligns with the “time on market” trend we just discussed.

Here’s what Zillow is forecasting for the coming months:

• October 2025: A slight decrease of -0.1% in home values is predicted.
• December 2025: The forecast shows a continued decrease of -0.3%.

This suggests that early 2025 might see a bit of a cool-down, with home values potentially dipping slightly. This isn't a crash, but more of a gentle correction after a period of rapid growth.

One-Year Forecast (September 2025 to September 2026): Signs of Recovery

Looking a bit further out, the picture becomes more positive. For the period from September 2025 to September 2026, Zillow forecasts a 1.4% increase in home values for the Raleigh metro area. This indicates a recovery after the predicted dips earlier in 2025.

Raleigh vs. Other North Carolina Cities: A Mixed Bag

It's always helpful to see how Raleigh stacks up against other cities in North Carolina. Zillow's forecast shows some interesting differences:

Region Name	October 2025 Forecast	December 2025 Forecast	September 2026 Forecast
Raleigh, NC	-0.1%	-0.3%	1.4%
Charlotte, NC	0.2%	0.5%	2.8%
Greensboro, NC	0.3%	0.5%	2.1%
Winston, NC	0.4%	0.9%	3%
Durham, NC	0.1%	0.3%	2.2%
Fayetteville, NC	0.3%	0.8%	3.8%
Asheville, NC	-0.1%	0%	1.8%
Hickory, NC	0.3%	0.8%	3.2%
Wilmington, NC	0.1%	0.4%	3.1%

Source: Zillow (MSA Forecast)

As you can see, while Raleigh is predicted to see a slight dip in late 2025, other cities like Winston-Salem and Fayetteville are showing stronger growth forecasts throughout. Charlotte and Durham are also expected to see positive growth sooner than Raleigh. Asheville is in a similar boat to Raleigh, with a predicted dip. It seems Raleigh's market might take a little longer to bounce back compared to some other areas in the state.

Comparing to the U.S. Market Forecast

Let's zoom out and see how the national picture looks, according to Zillow and the National Association of Realtors (NAR).

Key Predictions from Zillow (Nationwide):

• Home Value Growth: After a flat year in 2025, Zillow expects home value growth to pick up in 2026, reaching a peak of nearly 1.9% by August 2026.
• Home Sales: The number of home sales is predicted to end 2025 at around 4.07 million, which is a bit higher than in 2024.
• Rents: Rents are expected to continue cooling down, with lower growth rates in 2025.

Key Predictions from NAR Chief Economist Lawrence Yun:

Lawrence Yun, a respected economist, also sees a brighter future for the U.S. housing market.

• Existing Home Sales: Expected to increase by 6% in 2025 and then by a significant 11% in 2026. This means more people will be buying and selling homes.
• New Home Sales: These are projected to go up by 10% in 2025 and another 5% in 2026. This is great news for builders and for increasing the overall supply of homes.
• Median Home Prices: Prices are expected to increase modestly, with a projected rise of 3% in 2025 and 4% in 2026. This is a much more stable growth rate than we saw in recent years.
• Mortgage Rates: Yun believes rates will average 6.4% in the second half of 2025 and then drop to around 6.1% in 2026. He calls these rates a “magic bullet” because they make homeownership more affordable.

Overall, the national forecast is cautiously optimistic. We're seeing a trend of stabilization in late 2024 and early 2025, followed by a gradual recovery in home sales and prices in 2026.

So, Will Home Prices Drop in Raleigh? Can It Crash?

Based on the data and forecasts from Realtor.com, Zillow, and NAR, a major housing market crash in Raleigh seems unlikely. What we are seeing, and what is forecasted, is more of a cooling down or a stabilization after a period of rapid growth.

The slight dips predicted for Raleigh in late 2025 are not dramatic. They suggest that the market is adjusting to higher mortgage rates and a more balanced supply. The forecast for a gradual recovery in 2026 is a positive sign.

Here’s my take: If you’re a buyer, this current trend might offer more negotiation power and a chance to buy without facing bidding wars on every single property. If you’re a seller, it means being realistic about pricing and preparing for homes to take a bit longer to sell.

A Peek into 2026 and Early 2027

Looking at the forecasts for next year, we can infer a few things for the end of 2026 and early 2027. The national trend points towards continued recovery. For Raleigh, if we follow the national pattern and Zillow's 1.4% growth forecast for September 2026, we can expect:

• End of 2026: Home values in Raleigh are likely to be on an upward trend, building on the recovery seen throughout the year. The modest price increases predicted nationally (3% in 2025, 4% in 2026) suggest that Raleigh will likely follow this pattern, perhaps with slightly more conservative growth after its recent adjustments.
• Early 2027: This period should see the momentum from late 2026 continue. With mortgage rates potentially staying lower and home sales increasing, the Raleigh housing market should be in a good place for steady, sustainable growth. It's unlikely to see the double-digit appreciation we witnessed in the past couple of years, but rather a healthier, more balanced appreciation.

It's important to remember that these are forecasts, and real estate can be influenced by many factors, like the broader economy, local job growth, and interest rate changes. But the general consensus is that the Raleigh housing market is moving from a super-heated seller's market towards a more balanced environment, with a healthy recovery expected in the coming years.