Moving to North Carolina? Here’s what you need to know about the housing market

If you’re considering moving to North Carolina, it’s likely because you’re aware of the many benefits of living in the state. Between its thriving job market, vibrant communities, and moderate climate, along with its southern charm, it has become one of the most desirable places to live in the United States. The state is growing so quickly that it’s expected to become the seventh most populated state by 2030, edging closer to states like Georgia, Illinois, and Ohio. And if you’re looking for a great place to land, the Triangle — made up of Raleigh, Durham, Chapel Hill, and its surrounding communities — should be on your radar.

Before you start house hunting, it’s important to understand what’s happening in the local housing market. Here’s what you need to know as you make a move to The Tar Heel State.

The Triangle consistently ranks among the fastest-growing regions in the U.S., which is part of why North Carolina is experiencing such massive growth. It’s not hard to see why people love the Triangle area. For starters, the Triangle’s central location offers easy access to both the mountains and the coast, making weekend getaways a breeze. And it offers an amazing quality of life. From music festivals in Durham to food halls in Raleigh and the college-town vibe of Chapel Hill, the region blends urban amenities with Southern hospitality.

There are also countless opportunities for outstanding careers and education, thanks in part to the Research Triangle Park, which promotes industry and collaboration between the region’s three powerhouse universities. Between Duke, the University of North Carolina, and NC State, research as well as jobs in tech, biotech, and healthcare, are drawing professionals from across the globe.

Many people are relocating to the Triangle, particularly from high-cost areas such as New York and California. That’s because for those moving to North Carolina, the state’s affordability makes it desirable compared to the cost of living in cities like San Francisco, Chicago, Boston, Seattle, and New York City. These newcomers are fueling competition for homes across the area.

While home prices have increased steadily in the Triangle area, the region remains considerably more affordable than many other major metros. And like much of the rest of the United States, the area also faces a limited housing supply, which means desirable homes often receive multiple offers. Fortunately, many local, regional, and national builders and developers are racing to keep up with demand. In suburban areas like Apex, Holly Springs, and growing communities in Franklin and Johnston County, planned communities with modern amenities are becoming increasingly more popular. This new construction helps ensure there are enough housing opportunities for everyone calling the Triangle area home.

If you’re moving to North Carolina, you may be coming from a major metropolitan area. If you want to maintain that urban lifestyle, Raleigh offers a mix of historic neighborhoods, trending downtown condos, new luxury homes, and family-friendly pockets. Similarly, Durham’s entrepreneurial energy is enticing many buyers with revitalized mill lofts and suburban developments. And Chapel Hill offers a charming college town vibe.

Yet for those looking for a slower pace, there are options throughout the Triangle that are growing in popularity. Fast-growing suburbs like Cary and Apex are consistently named among the best places to live in the United States, thanks in part to excellent schools and the sense of community they offer. And growing communities like Fuquay-Varina, Garner, and Clayton are booming because of their proximity to the larger cities and the affordability they offer. From small towns to major cities, you’ll find a place you can call home in the Triangle.

It’s possible to find a great home in the Triangle if you plan and get creative. Start by working with a local team of professionals who know the market and can help you adjust from wherever you’re moving. Get pre-approved before you start home hunting. In the Triangle, homes are still moving off the real estate market fast, so having financing lined up gives you a competitive edge.

Make sure you’re aware of where you’d like to live. If you’re commuting to a job, consider things like traffic and proximity to where work will be. Think about how you’ll be spending your time to make sure you find a place that makes sense for your lifestyle. And make sure you expand your search to towns outside of the cities to open up more options for your needs. Make sure you work with a Triangle-based real estate agent to help you navigate those nuances and better understand market trends, which may be in stark contrast to what you are leaving behind.

As you’re thinking of moving to North Carolina, keep in mind that the Triangle offers a rare mix of economic opportunity, cultural richness, and quality of life. And it’s these elements that continue to draw new residents every year. While the housing market is competitive, being prepared and working with the right resources can help you find a home that fits your lifestyle and goals. That preparation and know-how also ensures you’ll make a wise investment for both today and tomorrow. If you’re moving to the Raleigh-Durham-Chapel Hill area, you’ll be joining a growing, thriving, and welcoming community you’ll love calling home.