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 Lake Norman_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
To say 2022 was a rollercoaster ride may be an understatement. We experienced record high prices in the spring with low rates and even lower supply of homes available. Fast forward to the end of 2022, and inventory has almost doubled as homes sit on the market longer because buyers have pumped the brakes to adjust to the rising interest rates. Everyone had to make an adjustment to the market. We do have a lot of hope that 2023 will bring a market that is more balanced. Our Charlotte region remains a very popular place to live, and we continue to see people moving to our area every day. That is a great benefit in investing to live in such a desirable area.
–At Nest Realty Lake Norman we focus on creating great experiences for our clients, providing support for our local communities & being an amazing workplace for our agents. 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.