T
he Triangle's housing market is slowly finding its footing, with a 30% surge in available homes across Wake, Durham, Orange, Johnston, and Chatham counties over the past year. This uptick in inventory has brought some much-needed relief to buyers navigating high interest rates and economic uncertainty.

    According to Doorify MLS data, the median sales price for a home in these counties stood at $431,000 in February, a 2.6% increase from the previous year's numbers. However, this figure is still down from last June's peak of $470,000.

    "This market is finally starting to look like normal," says Matt Fowler, executive director of Doorify MLS. "Homes are selling at a more reasonable pace, and buyers are no longer willing to pay over the asking price."

    Fowler attributes this shift to higher interest rates, which have kept many would-be homebuyers on the sidelines. As a result, bidding wars that drove prices up in previous years have become less common.

    While some predict a strong spring and summer sales season, uncertainty in the local and national economy could impact these projections. Fowler notes that if mortgage rates remain between 5% and 7%, more buyers may return to the market. However, any significant drop in rates could lead to a surge in sales and prices.