We are proud to present you with this synopsis of the national, regional, and localized trends that matter most to you, found here in our Greensboro_2022 Annual Report.
MARKET OUTLOOK – NATIONAL LEVEL
With our Nest Annual Report, we aim to provide the most useful information possible, as every homeowner needs to keep tabs on their investment, and every potential shopper needs to be informed before embarking on such a major financial decision. Locally, we study neighborhoods, builders, and development trends, but on a national level, there are three trends that year-in and year-out are a fantastic indicator of the overall health of our national economy, and by extension, the housing market: Mortgage Rates, Consumer Confidence, and Unemployment Rates. Looking at these numbers allows us to make predictions of what we should expect to see in 2023—which is a more stable real estate market. Mortgage rates have increased more quickly than economists had predicted, but they still remain in an affordable range, historically speaking. And while consumer confidence is down entering 2023, it has been trending upward since June 2022. And finally, unemployment is running extraordinarily low, which points to potential real wage gains in the coming year, benefitting average consumers.
MARKET OUTLOOK – LOCAL LEVEL
Real estate is like a roller coaster…with steep inclines and descents that carry a train of passengers through sharp curves and sudden turns for a brief thrill ride. This past year our “passengers” have experienced all of the highs and lows. We have all ridden the seller’s market roller coaster of emotion, with quick showings, multiple offers, and closings over list price. As we roll into 2023, there is some apprehension about where this ride will take us. Just like the anticipation and excitement of standing in line waiting for your turn on the ride, the real estate market is no different. But don’t fear. Our agents have the experience and knowledge required, and are thrilled to take this ride with you!
–What makes our Greensboro Nest agents stand out? We become friends through the process of selling or buying the places that you call home. At Nest, we are all about intentional and strategic growth. As of 2022, we have 451 Nest agents buying and selling throughout 23 offices in 17 locations, spanning seven states across the U.S. With each new office that opens, we are able to expand our reach, better serving you, our incredible clients.