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 Morganton_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
We had an amazing year in 2022! We added three new agents and now have a total of eight agents to help our growing family of clients. Our sales volume more than doubled, to over $28,000,000. While the last couple of years have seen a seller’s market in most price points, we’re seeing a slight shift. There will still be some areas that continue to have strong demand and remain a seller’s market; but for most areas, we are expecting 2023 to be more of a fair market. Fair can mean different things to different people, so what does this mean for you? In these areas there will be an opportunity to invest and build equity over the next few years as values continue to increase. We’ll be keeping a close eye on the market throughout 2023. We’re optimistic about the local market and hope this report piques your interest.
Want to know more? Reach out. We’ll be happy to answer your questions. And whether you’re considering buying, selling, or investing, we’re here to help you navigate your opportunities.
–At Nest Realty Morganton, we excel at creating a personal connection with each client, allowing us to provide a highly personalized level of service. Our clients become our friends and neighbors and we love it! 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.