Here’s what to expect for Clayton and the greater Johnston County real estate market at the onset of 2023.
Home Buyers are Coming!
Recently, we’ve seen a significant uptick in buyer interest, and we can expect sales to pick up in 2023. Here’s why. Buyers are engaging on our JaclynSmithProperties.com website like we’ve not seen in recent months! Since December 25th (a 4 week period), we have seen nearly 200 new buyers start their home search! That’s double the rate of new buyers engaging on our JaclynSmithProperties.com website when compared with the 4 weeks leading up to this past Christmas!
What is Fueling These New Buyers and Where are They Coming From?
What’s fueling this increase and where are they coming from? North Carolina is now in the top 5 states in the US for inbound U-Haul Growth States (rental trucks and trailers). That number is up from #19 last year! Of those, many are relocating to Johnston County in record numbers (see images above and below). Of those who are relocating, many are retiring here from the midwest and the northeast. Others are relocating to JoCo for our emerging jobs market!
The Numbers Don’t Lie!
According to numerous reliable sources, including the WRAL TechWire, over 10,000 people per year are moving to Johnston County.
Why The Recent Uptick in Johnston County Real Estate Sales and Buyer Interest?
When those relocating to JoCo arrive, they will be greeted by these 4 primary reasons why sales have increased in early 2023.
- Interest rates are down to between 5.5% and 6%. While no where near the 3% interest rates we saw in 2022, those days of interest rates that low are clearly behind us. Some financial experts think we could see interest rates settle into the low to mid 5% range this year but much depends on what occurs with the Ukrainian war, how the Fed will stem inflation and gain control of the shaky economy.
- Recent price reductions by builders have helped make homes more a affordable! In some cases, we’ve seen prices reduced by $20,000!
- Johnston County homebuilders (like One27Homes) are offering very attractive incentives, in some cases up to $20,000 to use as you choose!
- Inventory is shrinking! That means Johnston County home buyers have less new homes to choose from!
- With fewer homes available and greater demand from those relocating to Johnston County, our home values should appreciate by an estimated 4-6% this year!
Ready to Buy Your New Home in Johnston County?
If all of this news has you thinking about buying a new home in Johnston County, leave a comment below, or give us a call/send us a text today at (919) 813-0123. We would love to start a conversation about whether now is an opportune time for YOU to buy your new home! We would love to be your trusted real estate resource of choice!