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 Greenville 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
The real estate market in 2022 was one we had never seen before. We had very low inventory, low interest rates and high buyer demand at the start of the year. Then the market shifted. Inventory remained on the market a little longer, interest rates increased, and buyers were able to take a breath before plunging into a purchase. The Greenville area witnessed unprecedented growth. In this report you’ll see the impact that these data points had on our local market. Whether you chose to make a move in 2022, or watch from the sidelines, we hope that these market statistics will help you achieve your real estate goals. Please enjoy our 2022 Annual Report, and please don’t hesitate to reach out with any questions. Cheers to 2023!
–At Nest Realty Greenville our mission is to bring you home. Our agents utilize their expertise and market knowledge to empower clients when making real estate decisions. This high level of service occurs before, during, and after your real estate closing. Our clients become our friends and neighbors and our relationships continue for years to come as we give back to the community and clients we serve. 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.