First time home buyers - Read this first before buying in the Triad area
Navigating the Triad's Real Estate Landscape: A First-Time Homebuyer's 2025-2026 Guide
The Triad region of North Carolina, encompassing the vibrant cities of Greensboro, Winston-Salem, and High Point, continues to be a magnet for new residents and a promising market for aspiring homeowners. If you're a first-time homebuyer eyeing this dynamic area, understanding the latest market updates, statistics, and available programs is crucial to making an informed and confident move. As of late 2025, the Triad market presents a unique blend of stabilizing conditions and emerging opportunities, making it an opportune time for those ready to step into homeownership.
A Stabilizing Market with Opportunities for Savvy Buyers
After several years of rapid appreciation and intense competition, the Triad's real estate market is showing signs of a welcome stabilization, offering first-time buyers more breathing room.
Current Interest Rates: Mortgage rates have seen some fluctuations but are settling into a range that allows for more predictable planning. As of December 2025, current 30-year fixed mortgage rates in North Carolina are hovering around6% to 6.45%, while 15-year fixed rates are approximately5.375% to 5.83%. Experts forecast these rates to generally stay within the6-7% range in the coming months, with an average prediction around6.36%for 2025. Looking ahead to 2026, the average 30-year mortgage rate is anticipated to be around6.3%.
Home Prices and Appreciation: Across North Carolina, the median sales price in October 2025 was up3.1% year-over-year. The statewide average home value as of September 30, 2025, stood at$332,681, reflecting a minor decrease of 0.7% from the previous year, according to Zillow.
More specifically for the Triad:
The region is recognized as one of the few in North Carolina where quality homes are still available at realistic prices, generally below those in Charlotte or Raleigh.
In Greensboro, the median home price was$279,000as of late 2024, experiencing a slight 2.3% year-over-year drop. However, forecasts for 2026 anticipate a4.4% rise in prices for Greensboro-High Point. The average home value in Greensboro is currently$256,905.
Winston-Salem saw its median listing home price reach$305,000in September 2025, marking a 5.5% increase year-over-year. The median sold price was$275,000.
Inventory Levels and Market Dynamics: The statewide housing supply reached5.7 months in mid-2025, edging closer to the 6-month benchmark that signifies a balanced market. Active listings in North Carolina increased by25.7% year-over-year by mid-2025, providing buyers with more choices.
For the Triad, specifically:
Inventory is currently climbing in 2025, particularly in popular neighborhoods like Ardmore in Winston-Salem, Lindley Park in Greensboro, and newer developments around High Point. This translates to more selection and reduced pressure for buyers.
In September 2025, Winston-Salem was considered a balanced market, with homes typically selling after48 days on the market.
Greensboro, as of July 2025, was leaning towards a buyer's market, with a lower year-over-year home value growth of0.6%and approximately25.3% of listings seeing price reductions in Guilford County. Homes in Guilford County spent an average of44 days on the market.
Empowering First-Time Homebuyers: Key Programs and Assistance
North Carolina offers robust support for first-time homebuyers through various state and local programs, making homeownership more accessible.
Statewide Programs via the North Carolina Housing Finance Agency (NCHFA):
NC Home Advantage Mortgage™:This program provides a fixed-rate mortgage coupled with up to3% of the loan amount in down payment assistance. This assistance is forgivable after 15 years, provided you remain in the home. Eligibility generally requires an income limit of around $140,000 per year and a minimum credit score of 640.
NC 1st Home Advantage Down Payment: Offering up to$15,000 in down payment assistance as a deferred, 0% second mortgage. This assistance is also forgiven after 15 years for first-time buyers or eligible veterans.
NC Home Advantage Tax Credit (MCC):A federal tax credit allowing you to claim30% of the mortgage interest paidon an existing home (or 50% for a new build), capped at $2,000 annually. This can be combined with the NC Home Advantage Mortgage for even greater savings.
Community Partners Loan Pool (CPLP):Provides up to$50,000in a deferred, 0% loan with no monthly payments for 30 years, repaid only upon sale or refinance.
Greensboro-Specific Assistance:
The City of Greensboro significantly enhanced its Homebuyer Assistance Program in August 2025, now offering up to$25,000for down payment and closing costs.
To qualify, buyers must purchase within Greensboro city limits, have an income less than 120% of the area median income (approximately $100,000 for a family of four), possess a credit score of at least 600, be a first-time homebuyer (or not have owned in the last three years), and complete an 8-hour homebuyer education course.
Additional bonuses, up to$5,000 or $10,000, are available for homes purchased in designated reinvestment or redevelopment areas, or for certain professions like City/County/School employees or military veterans.
Be aware that some assistance may need to be repaid if the home is sold within a certain timeframe, potentially up to 10 years.
Other Triad Cities: Durham and Winston-Salem also offer their own local assistance programs, often providing forgivable loans in the$15,000-$20,000 range. It's advisable to check directly with each city's housing department for specific details and eligibility requirements.
Looking Ahead: Your Strategic Advantage
While some forecasts predict a "great housing reset" in 2026 with easing mortgage rates and increased new construction nationally, which could lead to a10% jump in home sales and heightened competition, the current climate (late 2025) in the Triad offers a distinct advantage for first-time buyers.
The expanding inventory and stabilizing prices mean more choices and increased negotiation opportunities today. Many sellers are currently more flexible with prices and concessions, a trend that may diminish as competition stiffens in the coming year.
For first-time buyers, this period represents a potential window to secure a home with more favorable terms and less intense bidding wars compared to what 2026 might bring. Don't wait on the sidelines hoping for significantly lower rates; instead, leverage the current market conditions and the wealth of assistance programs available to make your homeownership dream a reality in the flourishing Triad.
