William Mclean - Real Estate

06/23/2026

🏡Tuesday, June 23 - Daily Raleigh-Durham Market Briefing
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📊 Mortgage Rate Snapshot

Rates ticked up slightly this week following the June Fed meeting, where policymakers signaled they're in no rush to cut. Here's where things stand today:

Loan Type Rate
30-Year Fixed 6.45%
15-Year Fixed 5.74%
5/1 ARM 6.34%

Rates are modestly higher than where they were heading into last week, reflecting a more cautious tone out of the Fed. For buyers in Raleigh-Durham, this isn't dramatic movement, but it's a reminder that waiting for rates to drop significantly may not pay off. At 6.45%, a $400K loan runs about $2,500/month in principal and interest — worth running those numbers with clients who are on the fence.
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🏘️ Raleigh/Durham Market News

1. The market has quietly shifted to buyers' favor.

For the first time since 2019, Triangle real estate professionals are calling this a balanced market. Median home prices have held steady around $425K for the past three years, and homes are now averaging 34 days on market — up from 30 days a year ago. That extra week matters: sellers are no longer calling the shots the way they were in 2021-2022.

2. Inventory is up, and that's the story.

Active listings are running more than 20% above last year's levels. Wake County still has a structural shortfall of roughly 65,000 units, but the day-to-day supply picture is noticeably better than it was. Buyers have more options and more time to make decisions.

3. New apartment construction is pulling back sharply.

After the Triangle absorbed more than 26,000 multifamily units over 2024 and 2025, the pipeline has thinned considerably. Deliveries in Q1 2026 were at a five-year low, and the overall pace of new multifamily completions is expected to drop more than 60% compared to last year. Less rental supply coming means rental demand could firm up, something worth flagging for investor clients.

Call now to connect with business.

06/22/2026

🏡Monday, June 22 - Daily Raleigh-Durham Market Briefing
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📊 Mortgage Rate Snapshot

Rates edged down slightly this week after a few weeks of pressure. Here's where things stand today:

Loan Type Rate Freddie Mac weekly avg
30-Year Fixed 6.47% down from 6.52% last week
15-Year Fixed 5.81% down slightly from 5.84% last week
5/1 ARM 6.50% Roughly flat

The modest dip comes partly from easing energy prices tied to geopolitical news, which pulled Treasury yields lower. Don't expect a dramatic slide from here — most analysts see rates holding above 6% through the rest of 2026, with any cuts being slow and incremental.

What this means locally: Buyers in the Raleigh-Durham market are still dealing with real affordability pressure, but the slight week-over-week improvement is a good talking point. On a $420,000 home with 20% down, dropping from 6.52% to 6.47% saves about $20/month. Small, but it's movement in the right direction.
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🏘️ Raleigh/Durham Market News

1. The market's cooler, but sellers still have the upper hand.

The median sale price in Raleigh sits around $420,000, essentially flat year-over-year. Homes are moving in about 43 days on average, and sellers are getting 98.4% of asking price. Roughly 21% of homes are still selling above list, though that's down from 23% a year ago. Inventory is at about 3.4 months of supply — still a seller's market, just not the frenzy of 2022.

2. Durham's southeast side is a hotspot for new construction.

The 27703 ZIP code (southeast Durham) has 177 active new construction listings right now. Builders are busy there, and the area's drawing buyers who want new builds at a relative value compared to closer-in neighborhoods. If you've got buyers priced out of North Raleigh or Cary, this is worth putting on their radar.

3. Big projects reshaping the region.

A 37-story mixed-use tower called The Creamery is expected to break ground in Glenwood South this year — it'll be the tallest building in Raleigh when it's done. The Complete 540 outer loop is in its final stretch of construction, which will open up accessibility to areas like Johnston County and Southeast Wake. And Downtown Raleigh's development pipeline sits at $8.3 billion with over 5,700 new residential units in the works since 2025. Long-term demand signals remain strong.

06/21/2026

Sunday, June 21 - Daily Raleigh-Durham Market Briefing
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📊 Mortgage Rate Snapshot

Rates ticked up this week after the Fed's June 18 meeting, with policymakers holding steady for now but signaling a possible rate hike later this year. That hawkish tone pushed bond markets higher and nudged mortgage rates up off recent lows:

Loan Type Rate Week-over-Week
30-Year Fixed 6.47% down from 6.52% last week
15-Year Fixed 5.83% down slightly from 5.84% last week
5/1 ARM 6.38% Roughly flat

The week-over-week dip is small, but it's movement in the right direction. Economists don't expect rates to drop below 6% before year-end, so buyers who've been waiting for a dramatic fall may want to recalibrate their expectations. The practical takeaway for your clients: locking in now while rates are edging down makes more sense than holding out for a big swing that probably isn't coming.
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🏘️ Raleigh/Durham Market News

1. Inventory is up, and buyers are feeling it.

Active listings across the Triangle are running more than 20% above last year's levels, and the median home is now sitting on market for over 30 days. Cary in particular is seeing negotiable pricing come back on premium family homes, with days on market stretching past 40. For buyers, this is the most breathing room they've had in years.

2. Home prices are softening, but not cratering.

The median sale price in Raleigh is hovering around $428K, down roughly 1.8% year-over-year. That's a meaningful shift from the runaway appreciation of 2022 and 2023, and it reflects a market that's finally found some balance. Sellers who priced aggressively at the peak need to hear this clearly.

3. Multifamily construction is pulling back hard.

After more than 26,000 apartment units were delivered in 2024 and 2025, the pipeline is thinning out. Only around 1,300 units came online to start 2026, and deliveries are expected to drop more than 60% from last year's pace. This is worth watching for investor clients and anyone tracking rental market dynamics.

06/20/2026

🏡Saturday, June 20 - Daily Raleigh-Durham Market Briefing
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📊 Mortgage Rate Snapshot

Rates ticked up this week after the Fed's June 18 meeting, with policymakers holding steady for now but signaling a possible rate hike later this year. That hawkish tone pushed bond markets higher and nudged mortgage rates up off recent lows:

Loan Type Rate Week-over-Week
30-Year Fixed 6.51% Up slightly
15-Year Fixed 5.81% Down slightly
5/1 ARM 5.75% Roughly flat

What this means locally: A year ago the 30-year was averaging 6.81%, so buyers are still in a better spot than they were in mid-2025. On a $425,000 purchase (Triangle's rough median) with 20% down, you're looking at a principal-and-interest payment around $1,975/mo at 6.51%. Don't expect rate relief soon. The Fed's updated projections now lean toward a hike before year-end, so the "just wait for rates to drop" strategy looks shakier than it did a few months ago.
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🏘️ Raleigh/Durham Market News

1. The market is finally balanced, and buyers are noticing.

For the first time since 2019, local agents are describing the Triangle as a genuinely balanced market. Active listings are up more than 20% year-over-year in some pockets, and the median days on market has stretched past 40 days in Cary and parts of Raleigh. Sellers who priced aggressively six months ago are now negotiating. That's a real shift worth talking about with hesitant buyers.

2. Prices are holding, not falling.

Raleigh's median is sitting around $420,000-$436,500 depending on the source and timing, with modest year-over-year gains in the 2-4% range. Durham is slightly lower at around $390,000. Wake County is expected to outpace the national average on appreciation (3-5% projected for 2026). So it's a softer market, but not a distressed one. Sellers shouldn't panic, and buyers shouldn't expect bargain prices.

3. New construction is active but measured along the I-540 corridor.

Builders are adding supply in the outer suburbs and along I-540, but not at a pace that's flooding the market. New construction starts slowed significantly through late 2024 and 2025, which is keeping inventory from getting out of hand. Raleigh has about 163 new construction listings on market right now, with a median list price of $439K. Durham, by contrast, has tighter supply and stronger rental demand, which is keeping that market a bit more competitive.

06/19/2026

👀 Wait… a move-in ready home in Raleigh under $300K with a pool?!

Yep… and you can tour it THIS Saturday.

🏡 2907 Andover Glen Rd, Raleigh NC 27604
🗓 Saturday, June 20th
⏰ 2:00 – 4:00 PM

This one checks boxes most buyers are still searching for:
✨ Light-filled, open layout that actually feels spacious
✨ Soaring ceilings + cozy fireplace = instant “this feels like home”
✨ Updated kitchen with granite counters
✨ Private outdoor space (perfect for relaxing or entertaining)
✨ Community pool without the maintenance headache

💰 Offered at $259,000

Homes like this don’t hang around long - especially at this price point.

👉 Come see it in person before someone else calls it home.

📲 Message me for details or a private showing or text: 2907Andover to (910) 971-2723

https://myre.io/0zHkFvfZw7Ec

06/18/2026

🏡Thursday, June 18 - Daily Raleigh-Durham Market Briefing
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📊 Mortgage Rate Snapshot

Rates dipped to monthly lows this week, which is worth mentioning to any buyers sitting on the fence:

Loan Type Rate
30-Year Fixed 6.51%
15-Year Fixed 5.84%
5/1 ARM 6.78%

The 15-year ticked up slightly from last week (5.79% to 5.84%), while the 30-year has been relatively flat. For buyers in the Triangle, the story here is stability. Rates aren't dropping dramatically, but they're not spiking either. If a client has been waiting for rates to fall below 6%, that moment may not come soon, and at 6.5% with home prices softening slightly, the math is actually getting better in some price ranges.
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🏘️ Raleigh/Durham Market News

1. The market has found its balance.

After years of intense competition, the Triangle is finally in something close to a balanced market. Homes are sitting about 43 days on average before going under contract, up from 31 days this time last year. That's meaningful breathing room for buyers.

2. Inventory is up, but not flooding.

Active listings are running about 37% higher year-over-year across the metro. Months of supply sits around 3.4 in Wake County. For context, a balanced market is generally 4-6 months, so it's still leaning slightly toward sellers, but the bidding war frenzy is largely over.

3. Prices are softening gently.

The Raleigh median is around $420K-$436K depending on the source and the month. Year-over-year, prices are essentially flat to slightly down (roughly -1.4% to -2%). That's not a crash. It's a correction toward something sustainable.

4. New construction is filling the gaps.

Builders are active along the I-540 corridor and in the outer suburbs. Supply is growing at a measured pace, which is keeping appreciation from going negative. Fannie Mae noted improving supply/demand balance in the metro by early 2026.

06/17/2026

🏡 Wednesday, June 17 - Daily Raleigh-Durham Market Briefing
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📊 Mortgage Rate Snapshot

Rates dipped slightly today after news of a peace development in the Iran conflict eased some pressure on energy markets. Here's where things stand this morning:

Loan Type Rate
30-Year Fixed 6.53%
15-Year Fixed 5.72%
5/1 ARM 6.42%

Rates have been stuck above 6.5% for several weeks now, and most housing economists expect them to stay above 6% through the end of the year. The main culprit is inflation, with May's CPI coming in at 4.2% year-over-year, driven largely by energy costs.

What this means for your buyers: Affordability is still the number one conversation. A buyer shopping at $450K is looking at roughly $2,800/month on a 30-year fixed (not counting taxes and insurance). The 15-year rate at 5.72% is a decent option for move-up buyers with equity to put down. ARMs aren't as attractive right now since they're barely cheaper than the 30-year, so most clients are better off locking in the fixed.
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🏘️ Raleigh/Durham Market News

1. Inventory keeps climbing, but the market hasn't flipped.

Active listings are up more than 20% year-over-year across the Triangle, and homes are averaging more than 40 days on market, a big change from two years ago. Prices are holding steady, though. The median Triangle home price is hovering around $425,000 and has been in that range for about three years. Sellers have largely resisted cutting prices, but buyers are winning on concessions and negotiating room they didn't have in 2022.

2. Apartment construction hits a 5-year low.

New multifamily construction in the Raleigh-Durham market has slowed dramatically. Only about 1,300 units came online in early 2026, compared to 26,000-plus delivered across 2024 and 2025. Deliveries are expected to drop more than 60% from last year's pace. Vacancy rates appear to have peaked, which means the rental market should start to stabilize. For buyers who've been renting while waiting on the sidelines, this could nudge them toward purchasing sooner rather than later.

3. Single-family new construction is still moving.

KB Home is the most active builder in Raleigh right now, with 34 active communities across the metro. Builders are offering incentives, including rate buydowns, to move inventory.

06/16/2026

🏡 Tuesday, June 16, 2026 - Daily Raleigh-Durham Market Briefing
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📊 Mortgage Rate Snapshot

Rates are drifting down, which is good news heading into summer. Here's where things stand this morning:

Loan Type Rate
30-Year Fixed 6.32%
15-Year Fixed 5.75%
5/1 ARM 6.40%

The week-over-week dip on the 30-year is meaningful. For a buyer financing $400,000, that drop translates to about $30/month in savings — not dramatic, but worth mentioning in conversation. More importantly, rates are now 41 basis points lower than this time last year. Buyers who stalled out in 2025 are quietly starting to re-enter the market, and that trend is likely to continue if rates keep trending down.
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🏘️ Raleigh/Durham Market News

1. Inventory is growing, just not fast.

Raleigh has roughly 1,428 active listings right now, with about 3.4 months of supply. That's still below the 4-6 months that signals a truly balanced market, but it's a real improvement from the near-zero inventory years. Buyers actually have options today. That's a message worth driving home with anyone who's been waiting on the sidelines.

2. Prices are holding steady, not surging.

The median sale price in Raleigh sits around $420,000, essentially flat year-over-year. Durham's median is a touch softer at $418,000, down roughly 2.8% from last year. Homes are averaging 52+ days on market across the metro. Sellers still hold the edge in top neighborhoods, but overpriced listings are sitting — buyers have regained some negotiating room.

3. New construction keeps pushing the I-540 corridor.

Wake County issued roughly 15,200 building permits in 2024, and builders are still actively adding inventory along the outer suburbs near the I-540 expansion. The pipeline isn't flooding the market, but it's real and growing. For clients weighing resale versus new builds, that's a conversation worth having now rather than later.

06/15/2026

🏡 Monday, June 15, 2026 - Daily Raleigh-Durham Market Briefing
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📊 Mortgage Rate Snapshot

Rates ticked up slightly this week after a brief dip, but they're still sitting in territory that's workable for motivated buyers:

Loan Type Rate Week-over-Week
30-Year Fixed 6.57% +9 basis points
15-Year Fixed 5.91% +12 basis points
5/1 ARM 5.81%

Freddie Mac's latest weekly survey (June 11) put the 30-year at 6.52%, up from 6.48% the week before. The uptick is modest and tied to stronger-than-expected employment data, not a shift in Fed policy. Fannie Mae is still forecasting rates to finish 2026 near 5.9%, so buyers who are on the fence may want to get pre-approved now while inventory is up and competition is lighter.

For Raleigh-Durham buyers: Every 0.25% drop in rate adds roughly $5,000-$7,000 in purchasing power at the median price point here. The direction of travel is still downward over the year, but rates are bouncing around. Locking in sooner rather than waiting for the "perfect" rate is still the smarter play for most buyers.
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🏘️ Raleigh/Durham Market News

1. Inventory is up, and sellers are negotiating.

Active listings in the Raleigh area are running 20%+ above last year's levels, and homes are now averaging 40-52 days on market across the metro. Durham's median hit $418,000 in May, down about 2.8% year-over-year, with homes selling at 99% of list. That's still a healthy market, but buyers have more room to negotiate than they did in 2023-2024. Multiple offers still happen on sharp, well-priced listings in popular neighborhoods..

2. Raleigh named one of NAR's top 10 housing hot spots.

The National Association of Realtors called out the Raleigh metro as one of ten housing markets to watch nationally, citing strong income growth (6.3% year-over-year in 2025) and continued in-migration. The Triangle's fundamentals are solid, even as prices plateau. That's a good story to share with sellers who worry the market has "crashed."

3. New construction is active, but builders are offering deals.

There are roughly 558 new homes listed in Raleigh right now at a median of $425K, with another 358 in Durham (median around $539K for new builds). Builders are motivated, many units have quick move-in availability, and incentives like rate buydowns and closing cost credits are common right now. Worth knowing about if you're working with buyers who keep getting outbid on resale.

Call now to connect with business.

06/14/2026

🏡 Sunday, June 15, 2026 - Daily Raleigh-Durham Market Briefing
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📊 Mortgage Rate Snapshot

Rates ticked up slightly this week. The 30-year fixed is sitting at 6.52% (per Freddie Mac's June 11 survey), up from 6.48% the week before. The 15-year fixed came in at 5.84%, and the 5/1 ARM is running around 6.36%.

The culprit? A stronger-than-expected May jobs report and inflation creeping back up to 4.2%. That's keeping the Fed cautious and putting a floor under rates. The silver lining: a year ago, the 30-year was at 6.84%, so buyers are still in better shape than they were 12 months ago.

What this means locally: At 6.52%, a $420K home with 20% down runs about $2,130/month in principal and interest. That's the reality check buyers need before they start shopping. The ARM is looking tempting right now at 6.36%, but with inflation still running hot, it's worth a real conversation about the risk.
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🏘️ Raleigh/Durham Market News

1. Inventory is rising, but don't call it a buyer's market yet.

Active listings are up more than 20% year-over-year across the Triangle. Raleigh is sitting at roughly 3.4 months of supply, and homes are averaging 43 days on market. Durham is a bit softer at 52 days with about 1.5 months of supply. Prices are holding: Raleigh's median is around $420K (essentially flat), Durham at $418K (down about 3%). Buyers have more choices and more time to think, but there's no fire sale coming.

2. New construction is filling in the gaps.

Builders are active, especially along the I-540 corridor and the outer suburbs. About 163 new-construction homes are currently listed in Raleigh, with a median around $439K. It's not a flood of supply, but it's enough to give move-up buyers real options and keep resale sellers honest on pricing.

3. The Triangle's long-term story hasn't changed.

Tech and healthcare job growth continues to drive demand. Income in the Raleigh metro grew 6.3% in 2025, and the region still lands on every major "top market to watch" list. ULI and PwC still call it a "supernova market." The frenzy is gone, but the fundamentals are solid.