Raleigh FHA Loan Rates, Closing Costs & Stats

RALEIGH-CARY, NC

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Raleigh's 195 lenders originated 3,131 FHA loans during 2023. The total origination value was $1,015,715,000, with an average FHA loan value of $324,406.

Raleigh FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Raleigh averaged 6.45% for the week of 2024-07-12, compared to the national average (all FHA variants) of 6.655% for the same period.

Raleigh's average FHA mortgage closing costs are $8,629.

The average rate for the prior week (2024-07-05) was 6.52% and one month ago for the week of 2024-06-07, the average rate was 6.39%.

The average rate one year ago was 6.7%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.28%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Raleigh FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Raleigh level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 328 6.18% $13,315
UNITED WHOLESALE MORTGAGE, LLC 205 6.17% $13,504
MOVEMENT MORTGAGE, LLC 157 6.50% $13,657
LOANDEPOT.COM, LLC 139 6.24% $11,887
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 95 6.76% $10,333
NVR Mortgage Finance, Inc. 90 6.04% $13,075
CORNERSTONE HOME LENDING, INC. 76 6.67% $13,787
CROSSCOUNTRY MORTGAGE, LLC 69 6.72% $13,825
DHI MORTGAGE COMPANY, LTD. 64 5.48% $8,927
American Security Mortgage Corp. 64 6.31% $12,978
EAGLE HOME MORTGAGE, LLC 63 6.16% $8,904
PULTE MORTGAGE LLC 61 5.47% $8,427
NFM, INC. 52 6.53% $14,708
PENNYMAC LOAN SERVICES, LLC 51 6.23% $15,458
BROKER SOLUTIONS, INC. 45 6.67% $13,110
VANDERBILT MORTGAGE AND FINANCE, INC. 43 5.87% $17,725
FREEDOM MORTGAGE CORPORATION 43 6.79% $16,387
PRIMELENDING, A PLAINSCAPITAL COMPANY 38 6.05% $16,777
PRIMARY RESIDENTIAL MORTGAGE, INC. 36 6.46% $14,560
NEWREZ LLC 36 6.30% $12,784
CARDINAL FINANCIAL 35 6.17% $12,911
North State Bank 34 6.44% $10,794
ZILLOW HOME LOANS, LLC 34 6.11% $13,132
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 34 6.67% $14,017
KBHS HOME LOANS, LLC 32 6.00% $14,375
GoPrime Mortgage, Inc. 30 6.68% $13,149
Mr. Cooper ( Nationstar Mortgage ) 27 6.19% $17,792
First Heritage Mortgage, LLC 27 6.35% $13,259
Truist 26 6.14% $11,582
Prosperity Home Mortgage, LLC 26 6.51% $12,487
MATTAMY HOME FUNDING, LLC 26 6.09% $10,392
Carrington Mortgage Services, LLC 24 6.32% $12,090
Blue Ridge Bank 23 6.39% $11,434
Alcova Mortgage LLC 22 6.80% $10,455
The Federal Savings Bank 22 6.61% $12,904
CMG MORTGAGE, INC. 21 6.57% $13,338
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 20 6.62% $15,034
AMERISAVE MORTGAGE CORPORATION 19 6.10% $16,326
Towne Mortgage of the Carolinas, LLC 19 6.76% $12,737
GUARANTEED RATE, INC. 19 6.40% $11,805
RELIANCE FIRST CAPITAL, LLC 18 6.61% $15,951
INTERCOASTAL MORTGAGE COMPANY 17 6.79% $9,547
MUTUAL OF OMAHA MORTGAGE, INC. 17 6.40% $15,345
JET HOMELOANS, LLC 17 5.94% $11,122
Towne Bank 16 6.23% $12,669
Equity Prime Mortgage LLC 15 6.25% $15,558
FIRST HOME MORTGAGE CORPORATION 15 6.62% $13,395
ACADEMY MORTGAGE CORPORATION 15 6.42% $12,356
VILLAGE CAPITAL MORTGAGE 14 6.02% $13,605
VELOCIO MORTGAGE L.L.C. 14 5.98% $13,951
AMERICAN FINANCIAL NETWORK, INC. 13 6.79% $13,977
HOMESPIRE MORTGAGE CORPORATION 13 6.50% $9,407
Integrity Home Mortgage Corp 13 6.47% $11,777
HOMESIDE FINANCIAL, LLC 13 6.40% $11,634
United Community Bank 13 6.09% $13,417
LOANPAL, LLC 12 5.95% $13,830
Paramount Residential Mortgage Group, Inc. 12 6.49% $10,652
MORTGAGE SOLUTIONS OF COLORADO, LLC 11 6.90% $16,090
MICHIGAN MUTUAL, INC. 11 5.47% $14,516
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 10 6.63% $14,558
T2 FINANCIAL LLC 9 6.82% $14,522
Flagstar Bank, FSB 9 6.49% $12,542
TIDEWATER MORTGAGE SERVICES, INC. 9 6.38% $12,043
Plains Commerce Bank 9 6.24% $11,730
First-Citizens Bank & Trust Company 9 6.19% $10,462
Wells Fargo Bank 9 6.56% $10,397
LAKEVIEW LOAN SERVICING, LLC 9 5.90% $13,418
Bank of England 8 6.63% $13,435
EMM LOANS LLC 8 5.97% $15,046
Corporate Investors Mortgage Group, Inc. 8 6.64% $11,038
SUN WEST MORTGAGE COMPANY, INC. 7 6.28% $15,546
TOP FLITE FINANCIAL, INC. 7 6.54% $17,851
Mortgage Research Center, LLC 7 6.50% $9,957
HOMEBRIDGE FINANCIAL SERVICES, INC. 7 5.93% $11,175
SOUTHERN TRUST MORTGAGE, LLC 7 6.30% $13,554
FBC MORTGAGE, LLC 6 5.78% $8,150
BAY EQUITY LLC 6 6.48% $13,402
Northpointe Bank 6 6.52% $10,937
Nations Lending Corporation 6 6.31% $12,255
UNION HOME MORTGAGE CORP. 6 6.33% $11,784
MILEND, INC. 6 6.94% $16,743
PNC Bank 5 6.95% $9,128
ENVOY MORTGAGE, LTD 5 6.53% $10,928
CITY FIRST MORTGAGE SERVICES, L.L.C. 4 6.53% $13,958
Shamrock Home Loans, Inc. 4 6.31% $13,417
SWBC MORTGAGE CORPORATION 4 6.00% $12,423
ALLIED MORTGAGE GROUP, INC. 4 5.81% $10,677
Keystone Funding, Inc. 4 6.22% $18,805
TOWNE MORTGAGE COMPANY 4 6.81% $18,394
Lakeview Community Capital, LLC 4 6.03% $12,729
AmeriHome Mortgage Company, LLC 4 6.28% $11,416
AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.38% $16,766
PHH Mortgage Corporation 4 6.28% $9,130
DELMAR FINANCIAL COMPANY 4 6.69% $10,516
EVERETT FINANCIAL, INC. 4 7.28% $10,113
AMERICAN FINANCING CORPORATION 4 6.13% $14,988
ABSOLUTE HOME MORTGAGE CORPORATION 4 7.13% $16,253
GUILD MORTGAGE COMPANY 4 6.50% $17,677
EQUITY RESOURCES, INC. 4 6.72% $9,444
PLANET HOME LENDING, LLC 4 5.78% $9,259
CALCON MUTUAL MORTGAGE LLC 4 6.69% $11,783
DAS Acquisition Company, LLC 3 6.88% $17,594
Ameris Bank 3 6.08% $11,047
Century Mortgage Company DBA Century Lending Company 3 6.21% $13,218
Encompass Lending Group, LP 3 6.54% $15,067
LIBERTY HOME MORTGAGE CORPORATION 3 6.58% $15,156
PANORAMA MORTGAGE GROUP, LLC 3 6.92% $11,539
POLARIS HOME FUNDING CORP. 3 6.92% $11,721
RUOFF MORTGAGE COMPANY, INC. 3 5.83% $7,323
SeaTrust Mortgage Company 3 7.13% $9,827
South Pacific Financial Corporation 3 6.13% $11,355
Victorian Finance, LLC 3 6.67% $9,605
FIRST ALLIANCE HOME MORTGAGE, LLC 2 6.69% $17,009
Paramount Bank 2 6.69% $8,421
ACOPIA, LLC 2 6.68% $14,628
M&T Bank 2 6.13% $13,101
BAYSHORE MORTGAGE FUNDING, LLC 2 6.94% $11,227
Barrington Bank & Trust Company, N.A. 2 6.75% $10,920
OCMBC, INC. 2 7.88% $15,019
PENTAGON FEDERAL CREDIT UNION 2 6.31% $9,331
FIRST EQUITY MORTGAGE INCORPORATED 2 6.44% $10,714
FIRST CONTINENTAL MORTGAGE, LTD. 2 6.12% $8,572
NBKC BANK 2 6.06% $9,571
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 7.13% $14,060
ANGEL OAK HOME LOANS LLC 2 7.19% $13,234
SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 7.19% $12,078
PLAZA HOME MORTGAGE, INC. 2 6.88% $14,021
RAPID MORTGAGE COMPANY 2 7.00% $19,397
Regions Bank 2 6.19% $8,682
Strong Home Mortgage, LLC 2 6.19% $12,035
SUCCESS MORTGAGE PARTNERS, INC. 2 6.56% $11,683
Colonial Savings, F.A. 2 6.69% $16,090
MID AMERICA MORTGAGE, INC. 2 6.44% $7,461
CAPITAL CENTER, L.L.C. 2 6.81% $5,670
M/I FINANCIAL, LLC 2 6.69% $12,746
Residential Mortgage Solutions, Inc. 2 6.19% $11,775
The Central Trust Bank 2 6.56% $11,884
CONTOUR MORTGAGE CORPORATION 1 6.50% $18,637
RESOURCE FINANCIAL SERVICES, INC. 1 6.13% $13,200
ROYAL UNITED MORTGAGE LLC 1 7.25% $5,291
AMCAP MORTGAGE, LTD. 1 7.13% $16,993
SECURITYNATIONAL MORTGAGE COMPANY 1 6.63% $13,540
SFMC, LP 1 6.99% $16,929
Citizens Bank 1 5.50% $14,855
SHELTER HOME MORTGAGE, LLC 1 6.63% $17,105
SIRVA MORTGAGE, INC. 1 7.50% $7,598
CHURCHILL MORTGAGE CORPORATION 1 7.25% $15,273
Allen Tate Mortgage Partners, LLC 1 6.75% $8,593
SOVEREIGN LENDING GROUP INCORPORATED 1 5.50% $13,700
Capital City Home Loans, LLC 1 6.75% $14,788
CALIBER HOME LOANS, INC. 1 6.25% $12,051
Bell Bank 1 6.63% $12,343
The Fidelity Bank 1 6.75% $13,306
The Freedom Bank of Virginia 1 5.63% $10,379
THE MORTGAGE FIRM, INC. 1 6.75% $11,802
TOTAL MORTGAGE SERVICES, LLC 1 6.88% $19,325
Bank of America 1 7.00% $6,976
Atlantic Union Bank 1 6.13% $14,411
Atlantic Coast Mortgage, LLC 1 5.75% $14,245
Arvest Bank 1 6.00% $14,398
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 7.50% $14,432
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.75% $10,333
U.S. Bank 1 6.75% $10,665
Uwharrie Bank 1 5.75% $12,226
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 6.25% $9,652
VAN DYK MORTGAGE CORPORATION 1 7.63% $15,101
Meridian Bank Corporation 1 6.75% $11,694
MIDLAND MORTGAGE CORPORATION 1 6.63% $18,468
MEMBER FIRST MORTGAGE, LLC 1 7.13% $11,173
Leader Bank 1 6.75% $8,408
LOANFLIGHT LENDING, LLC 1 6.99% $12,000
LAND HOME FINANCIAL SERVICES, INC. 1 7.50% $15,926
Kwik Mortgage Corporation 1 5.75% $14,021
JPMorgan Chase Bank 1 7.63% $8,197
NATION ONE MORTGAGE CORPORATION 1 6.75% $22,738
NATIONS DIRECT MORTGAGE, LLC 1 6.99% $16,094
Ixonia Bank 1 7.50% $19,881
NETWORK CAPITAL FUNDING CORPORATION 1 6.75% $4,980
INTERCAP LENDING INC. 1 6.50% $11,911
HOMESTAR FINANCIAL CORPORATION 1 7.50% $10,279
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $17,515
GUARANTEED RATE AFFINITY, LLC 1 7.73% $7,573
NORWICH COMMERCIAL GROUP, INC. 1 6.25% $9,807
GENEVA FINANCIAL, LLC 1 7.13% $11,438
Vellum Mortgage, Inc. 1 7.50% $9,177
Gateway First Bank 1 6.75% $15,623
First Horizon Bank 1 6.25% $11,172
First Bank 1 6.25% $13,967
AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $10,544
PREMIA MORTGAGE, LLC 1 6.25% $8,305
PREMIER LENDING, INC. 1 6.50% $13,563
Fifth Third Bank 1 6.13% $7,208
Evolve Bank & Trust 1 5.75% $21,743
EMBRACE HOME LOANS, INC. 1 7.75% $9,079
DRAPER AND KRAMER MORTGAGE CORP. 1 6.13% $9,916

The top Raleigh FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 328 FHA loans originated. Their average total fees are $13,315, which is $190 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Raleigh FHA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC ($8,427), EAGLE HOME MORTGAGE, LLC ($8,904), DHI MORTGAGE COMPANY, LTD. ($8,927), HOMESPIRE MORTGAGE CORPORATION ($9,407) and INTERCOASTAL MORTGAGE COMPANY ($9,547).

The lowest rate Raleigh FHA lenders (with over 10 loans originated) are MICHIGAN MUTUAL, INC. (5.47%), PULTE MORTGAGE LLC (5.47%), DHI MORTGAGE COMPANY, LTD. (5.48%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.87%) and JET HOMELOANS, LLC (5.94%).

Raleigh FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
RALEIGH-CARY, NC FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
RALEIGH-CARY, NC JOHNSTON 2022 $420,680 $538,650 $651,050 $809,150
RALEIGH-CARY, NC WAKE 2022 $420,680 $538,650 $651,050 $809,150
RALEIGH-CARY, NC FRANKLIN 2023 $502,550 $643,350 $777,650 $966,450
RALEIGH-CARY, NC JOHNSTON 2023 $502,550 $643,350 $777,650 $966,450
RALEIGH-CARY, NC WAKE 2023 $502,550 $643,350 $777,650 $966,450

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Raleigh (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $350,080 (2.5%) $423,693 (3.1%) 1.30 3,973
2018-02-01 $358,693 (3.2%) $427,864 (3.1%) 1.30 4,010
2018-03-01 $368,837 (2.5%) $439,760 (2.6%) 1.29 4,228
2018-04-01 $369,951 (0.0%) $441,023 (0.0%) 1.25 4,498
2018-05-01 $369,950 (0.0%) $442,374 (-0.1%) 1.24 4,821
2018-06-01 $369,700 (1.0%) $445,449 (1.8%) 1.23 4,913
2018-07-01 $369,450 (0.6%) $448,748 (2.9%) 1.23 4,814
2018-08-01 $369,664 (1.6%) $447,787 (3.4%) 1.24 4,907
2018-09-01 $365,900 (0.3%) $442,771 (2.4%) 1.23 5,031
2018-10-01 $357,985 (-0.6%) $432,120 (0.8%) 1.21 5,275
2018-11-01 $355,281 (-1.3%) $430,386 (0.7%) 1.20 5,155
2018-12-01 $353,899 (-0.6%) $426,868 (-0.1%) 1.22 4,904
2019-01-01 $349,995 (0.0%) $423,873 (0.0%) 1.21 4,626
2019-02-01 $354,745 (-1.1%) $430,435 (0.6%) 1.20 4,580
2019-03-01 $363,771 (-1.4%) $439,870 (0.0%) 1.19 4,596
2019-04-01 $369,500 (-0.1%) $449,308 (1.9%) 1.17 4,723
2019-05-01 $375,000 (1.4%) $455,927 (3.1%) 1.17 4,830
2019-06-01 $376,000 (1.7%) $453,492 (1.8%) 1.18 4,931
2019-07-01 $375,000 (1.5%) $452,187 (0.8%) 1.17 5,004
2019-08-01 $371,807 (0.6%) $448,155 (0.1%) 1.18 5,084
2019-09-01 $367,528 (0.4%) $444,569 (0.4%) 1.18 5,147
2019-10-01 $364,100 (1.7%) $441,993 (2.3%) 1.17 5,188
2019-11-01 $359,418 (1.2%) $440,540 (2.4%) 1.18 4,990
2019-12-01 $359,950 (1.7%) $442,899 (3.8%) 1.20 4,532
2020-01-01 $358,714 (2.5%) $442,855 (4.5%) 1.20 4,218
2020-02-01 $364,645 (2.8%) $450,735 (4.7%) 1.19 4,108
2020-03-01 $372,685 (2.5%) $461,154 (4.8%) 1.17 4,030
2020-04-01 $363,849 (-1.5%) $451,689 (0.5%) 1.14 4,289
2020-05-01 $369,990 (-1.3%) $465,377 (2.1%) 1.12 4,192
2020-06-01 $381,450 (1.5%) $486,068 (7.2%) 1.12 3,573
2020-07-01 $381,439 (1.7%) $487,119 (7.7%) 1.11 3,317
2020-08-01 $385,000 (3.6%) $487,345 (8.7%) 1.10 3,201
2020-09-01 $390,708 (6.3%) $495,072 (11.4%) 1.12 2,895
2020-10-01 $389,900 (7.1%) $496,028 (12.2%) 1.12 2,854
2020-11-01 $385,000 (7.1%) $492,706 (11.8%) 1.13 2,568
2020-12-01 $387,376 (7.6%) $497,675 (12.4%) 1.15 2,199
2021-01-01 $389,900 (8.7%) $508,063 (14.7%) 1.16 1,853
2021-02-01 $395,775 (8.5%) $525,866 (16.7%) 1.15 1,478
2021-03-01 $397,450 (6.7%) $528,581 (14.6%) 1.13 1,281
2021-04-01 $399,510 (9.8%) $541,473 (19.9%) 1.08 1,203
2021-05-01 $403,297 (9.0%) $550,589 (18.3%) 1.07 1,030
2021-06-01 $408,898 (7.2%) $559,651 (15.1%) 1.08 1,046
2021-07-01 $409,900 (7.5%) $545,206 (11.9%) 1.08 1,207
2021-08-01 $424,630 (10.3%) $563,887 (15.7%) 1.13 1,249
2021-09-01 $425,000 (8.8%) $554,489 (12.0%) 1.13 1,408
2021-10-01 $425,000 (9.0%) $551,039 (11.1%) 1.13 1,461
2021-11-01 $426,870 (10.9%) $553,907 (12.4%) 1.14 1,340
2021-12-01 $423,320 (9.3%) $551,595 (10.8%) 1.15 1,097
2022-01-01 $426,000 (9.3%) $567,969 (11.8%) 1.15 900
2022-02-01 $433,862 (9.6%) $589,111 (12.0%) 1.13 660
2022-03-01 $450,725 (13.4%) $619,727 (17.2%) 1.13 694
2022-04-01 $476,565 (19.3%) $620,214 (14.5%) 1.14 850
2022-05-01 $494,500 (22.6%) $608,331 (10.5%) 1.13 1,437
2022-06-01 $499,950 (22.3%) $626,853 (12.0%) 1.11 2,103
2022-07-01 $495,000 (20.8%) $614,383 (12.7%) 1.12 2,767
2022-08-01 $486,247 (14.5%) $605,260 (7.3%) 1.12 3,187
2022-09-01 $464,000 (9.2%) $580,273 (4.7%) 1.08 3,765
2022-10-01 $455,000 (7.1%) $576,049 (4.5%) 1.07 3,935
2022-11-01 $449,725 (5.4%) $570,347 (3.0%) 1.08 3,886
2022-12-01 $448,900 (6.0%) $569,095 (3.2%) 1.11 3,595
2023-01-01 $445,950 (4.7%) $573,153 (0.9%) 1.10 3,200
2023-02-01 $449,787 (3.7%) $583,580 (-0.9%) 1.09 2,831
2023-03-01 $450,000 (-0.2%) $597,307 (-3.6%) 1.06 2,598
2023-04-01 $465,000 (-2.4%) $630,194 (1.6%) 1.08 2,427
2023-05-01 $474,490 (-4.1%) $640,399 (5.3%) 1.08 2,496
2023-06-01 $478,886 (-4.2%) $642,353 (2.5%) 1.08 2,526
2023-07-01 $469,900 (-5.1%) $634,143 (3.2%) 1.07 2,565
2023-08-01 $464,950 (-4.4%) $628,919 (3.9%) 1.07 2,667
2023-09-01 $459,750 (-0.9%) $624,453 (7.6%) 1.07 2,842
2023-10-01 $457,515 (0.6%) $621,273 (7.9%) 1.08 3,107
2023-11-01 $451,735 (0.5%) $615,991 (8.0%) 1.08 3,202
2023-12-01 $446,455 (-0.5%) $614,957 (8.1%) 1.09 2,951
2024-01-01 $439,945 (-1.4%) $622,802 (8.7%) 1.07 2,651
2024-02-01 $439,998 (-2.2%) $633,754 (8.6%) 1.06 2,648
2024-03-01 $449,990 (0.0%) $643,395 (7.7%) 1.06 2,756
2024-04-01 $451,258 (-3.0%) $640,046 (1.6%) 1.05 2,925
2024-05-01 $462,135 (-2.6%) $651,317 (1.7%) 1.04 3,195
2024-06-01 $470,000 (-1.9%) $650,307 (1.2%) 1.06 3,546
Raleigh's median listing price for 2024-06-01 was $470,000, a difference of $-8,886 (-1.9%) versus the prior year and $7,865 versus the prior month.

Raleigh's median listing price comes in at 106% of the national average.

Raleigh's average listing price for 2024-06-01 was $650,307, a difference of $7,954 (1.2%) versus the prior year and $-1,010 versus the prior month.

For the 2024-06-01 period, Raleigh had 3,546 MLS listings, a difference of 351 listings (11%) versus the prior month and 1,020 listings (40%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Raleigh (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 82 days 2,659 sqft
2018-02-01 69 days 2,652 sqft
2018-03-01 53 days 2,700 sqft
2018-04-01 51 days 2,669 sqft
2018-05-01 50 days 2,676 sqft
2018-06-01 53 days 2,666 sqft
2018-07-01 60 days 2,653 sqft
2018-08-01 62 days 2,655 sqft
2018-09-01 65 days 2,623 sqft
2018-10-01 68 days 2,588 sqft
2018-11-01 71 days 2,578 sqft
2018-12-01 78 days 2,564 sqft
2019-01-01 83 days 2,557 sqft
2019-02-01 74 days 2,561 sqft
2019-03-01 61 days 2,594 sqft
2019-04-01 50 days 2,625 sqft
2019-05-01 50 days 2,651 sqft
2019-06-01 50 days 2,629 sqft
2019-07-01 56 days 2,604 sqft
2019-08-01 57 days 2,578 sqft
2019-09-01 58 days 2,555 sqft
2019-10-01 59 days 2,541 sqft
2019-11-01 61 days 2,500 sqft
2019-12-01 69 days 2,505 sqft
2020-01-01 72 days 2,483 sqft
2020-02-01 59 days 2,519 sqft
2020-03-01 47 days 2,548 sqft
2020-04-01 50 days 2,495 sqft
2020-05-01 58 days 2,508 sqft
2020-06-01 58 days 2,539 sqft
2020-07-01 48 days 2,485 sqft
2020-08-01 40 days 2,464 sqft
2020-09-01 45 days 2,456 sqft
2020-10-01 44 days 2,426 sqft
2020-11-01 44 days 2,386 sqft
2020-12-01 49 days 2,376 sqft
2021-01-01 45 days 2,355 sqft
2021-02-01 33 days 2,309 sqft
2021-03-01 25 days 2,259 sqft
2021-04-01 20 days 2,299 sqft
2021-05-01 17 days 2,275 sqft
2021-06-01 16 days 2,261 sqft
2021-07-01 18 days 2,253 sqft
2021-08-01 20 days 2,256 sqft
2021-09-01 19 days 2,245 sqft
2021-10-01 20 days 2,228 sqft
2021-11-01 22 days 2,219 sqft
2021-12-01 34 days 2,198 sqft
2022-01-01 33 days 2,139 sqft
2022-02-01 16 days 2,146 sqft
2022-03-01 11 days 2,186 sqft
2022-04-01 10 days 2,250 sqft
2022-05-01 12 days 2,319 sqft
2022-06-01 16 days 2,356 sqft
2022-07-01 23 days 2,337 sqft
2022-08-01 30 days 2,334 sqft
2022-09-01 42 days 2,287 sqft
2022-10-01 47 days 2,269 sqft
2022-11-01 56 days 2,267 sqft
2022-12-01 68 days 2,284 sqft
2023-01-01 74 days 2,285 sqft
2023-02-01 66 days 2,288 sqft
2023-03-01 52 days 2,305 sqft
2023-04-01 48 days 2,327 sqft
2023-05-01 43 days 2,337 sqft
2023-06-01 43 days 2,347 sqft
2023-07-01 42 days 2,312 sqft
2023-08-01 40 days 2,299 sqft
2023-09-01 43 days 2,275 sqft
2023-10-01 44 days 2,254 sqft
2023-11-01 49 days 2,231 sqft
2023-12-01 63 days 2,205 sqft
2024-01-01 63 days 2,164 sqft
2024-02-01 44 days 2,171 sqft
2024-03-01 42 days 2,186 sqft
2024-04-01 38 days 2,167 sqft
2024-05-01 32 days 2,175 sqft
2024-06-01 36 days 2,219 sqft
Raleigh's median listing age (time on market) for 2024-06-01 was 36 days. This is -15% shorter than the same period one year ago.

Raleigh's median square footage for active listings during the 2024-06-01 period was 2,219 sqft. One year prior, the average listing was 2,347 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).