John Wood, President, RE/MAX UNITED
John Wood, president of RE/MAX United, discussed buyer behavior, infrastructure constraints, housing demand, and the Triangle’s outlook through 2027. In an interview with Invest:, Wood said, “The Greater Raleigh area and the Triangle continue to be a major attraction for people moving in from all over the country and around the world.”
What changes are you seeing among buyers entering the Triangle housing market?
We are starting to see buyers accept where interest rates are likely to remain. For a few years, we were fighting the mindset that rates would simply fall back to the unusually low levels of five years ago. People are increasingly accepting that this has not happened and adjusting their expectations accordingly.
The good news for buyers who are also sellers is that they have generally maintained the appreciation they received during the hottest years of the market. Many people who need to sell and buy are realizing that they may have to give up a 3% or 4% mortgage, but life changes eventually make a move necessary.
Those changes include having children, having children leave for college or begin their own lives, getting married, getting divorced, losing a family member, or needing relatives to move into the household. These life events have reached a tipping point for many people. Even when homeowners would prefer to keep their existing mortgage rate, their housing needs have changed enough that they need to move.
Affordability remains a challenge because home prices are higher and monthly payments have increased. However, many other major household expenses have risen as well. Cars that once cost $15,000, $20,000, or $25,000 may now cost $40,000 or $50,000, while large SUVs can cost $70,000 to $100,000. Consumers are adapting their expectations across major purchases.
What types of homes are attracting the strongest demand today?
A few segments are performing particularly well. One is the market for buyers with a 55-plus lifestyle who want to reduce their square footage without necessarily reducing the price, quality, or features of their home. In some cases, they are actually upgrading those elements.
Neighborhoods designed with more bedrooms on the main level, especially the primary bedroom, have attracted buyers entering the next phase of life with fewer children or no children living at home. Those communities have been extremely strong, and builders have struggled to construct homes quickly enough to meet demand.
The core market for single-family homes between approximately 2,000 and 3,000 square feet also remains strong. Those homes appeal to many household configurations and have consistently performed well in the Triangle.
Demand for townhomes and condominiums varies more significantly by location and market segment. In some areas, they are strong because they provide a lower entry price for first-time buyers or people relocating to the Triangle who need to remain within a certain price range.
Townhomes should no longer be viewed only as starter homes. Some are large, well-appointed properties with extensive amenities. They can appeal to buyers across several stages of life, although they continue to provide an important path into homeownership for buyers who need a more accessible price point.
How do you expect the Triangle housing market to develop through 2027?
We are in approximately our fourth year of relatively flat sales. In 2026, we have begun to see a small percentage increase in unit sales, along with some increases in average prices in certain areas. That suggests we may be starting to move into a gradual upward trend.
The Greater Raleigh area and the Triangle continue to be a major attraction for people moving in from all over the country and around the world. That migration continues to place pressure on the housing supply. Builders remain active in purchasing and developing land for future home sales.
Resale sellers are also realizing that they must prepare their homes properly before bringing them to market. When a home is presented in the right condition, it can still sell quickly and at a fair price.
We had anticipated that 2026 would be a stronger year, and it may still finish that way. The year began with considerable activity, but overseas conflicts and broader uncertainty affected buyer psychology. We have seen buyers become more active when international negotiations appear promising and pull back when conflict intensifies. Global events influence buyer confidence.
If the market avoids major new disruptions and consumers become more accustomed to existing conditions, I believe 2027 can be a strong year for real estate. The Triangle continues to attract manufacturing and research jobs, which will support long-term housing demand.
What will influence where new housing can be built in the coming years?
Municipalities understand that providing utilities, particularly water and sewer service, creates growth opportunities. Infrastructure capacity has always been a challenge in our market. A community expands its water and sewer systems, development accelerates, and eventually that new capacity is consumed. The community must then wait for the next infrastructure expansion.
Municipalities that stay ahead of those needs will continue to have development opportunities. Those that ignore their systems or fall behind will find themselves without the capacity to accommodate growth. The Triangle has experienced versions of this cycle for 30 years or more.
We still have land available for development within Wake County, in surrounding communities, and across the broader Triangle. The continued expansion of the interstate system, including Interstate 540, enables the market to extend farther from the urban core.
Water, sewer, and transportation systems determine whether projects can move forward. For investors, builders, and local governments, infrastructure planning will remain one of the most important factors shaping the location and pace of future housing construction.
How could international investment reshape the housing market?
International buyers have had a presence in the Triangle for some time, and that involvement has been welcome. We are fortunate to have become an international community, which is a meaningful change over the last couple of decades.
I am not sure that all of our housing styles have fully adjusted to the preferences of people coming from other parts of the world. Builders who are willing to understand and respond to those preferences can reach an audience that other builders may overlook. Regardless of where people relocate from, they may want certain features that are not typical in their new market.
Some builders have begun adapting their products to meet the needs of international buyers or households with an international perspective. Multigenerational housing is one example, although homes marketed specifically for that purpose have not always sold as well as expected. In some cases, the designs may not have been aligned closely enough with those families’ needs.
Opportunities also remain strong for individual investors and companies establishing operations in the region. The Triangle continues to attract international participation across multiple industries. Biotechnology is expanding rapidly, and the region’s longstanding technology sector continues to grow.
What other housing trends stand out in the Triangle?
The luxury market has expanded significantly in recent years. Luxury certainly includes homes priced above $1 million, but the Triangle is also seeing much more activity above $2 million and $3 million.
There are now opportunities in this segment that the region did not previously have. Some of the demand comes from residents who have built wealth, while some comes from people moving into the market. Listings and sales between $5 million and $7 million were once relatively uncommon here, but they have become much more common over the last few years.
Builders are responding with new construction, including larger homes and infill projects in established neighborhoods. That redevelopment has generally been well received by the market.
