About Caron Jones

Caron Jones is a Burlington, North Carolina-based realtor who holds years of experience in the North Carolina market. Caron Jones specializes in residential real estate, helping individuals and families explore rapidly evolving markets to find the perfect homes for their needs. Caron is extremely knowledgeable of North Carolina’s most sought after and little known markets alike, and she is committed to facilitating quality client experiences for first time home buyers.

Those who have worked with Caron Jones speak to how she is a real estate professional who cares deeply about the client experience and invests in comprehensive customer service through each stage of the homebuying process. Caron’s willingness to teach others about the market, ability to help others contextualize their goals and vision of their perfect homes, and interest in leveraging the latest technology for more effective results each stand out as reasons she remains a sought after realtor in her area. Caron knows the homebuying experience can be daunting, and that many first time homebuyers need a guide who is experienced and continuously working toward their best interests. This is why she fully commits to upholding each clients’ needs and streamlining her methods to their benefit.

Caron Jones of Burlington, North Carolina Explores 2023 NC Housing Trends

Caron Jones mentions that closely following real estate developments within her area is essential for providing prospective homebuyers and sellers with information that empowers more informed decision making. Naturally, the housing market is in a constant state of evolution as it adapts to changes in buying behaviors, emerging hot spots, rises in interest rates and home costs, and other factors. For this reason, accessible resources that explore the local market are key in deciding when to buy or sell, where to explore housing within, and how to best leverage today’s trends for housing success.

Here, Caron Jones of Burlington, North Carolina explores some of 2023’s prevailing housing trends, as well as what this means for those who are just stepping into the market.

Mortgage Interest Rates Impact Residential Housing Demand

Late last year, mortgage interest rate went up past 7% and have settled around 6.88% as of May of 2023.  Experts predict that mortgage rates will remain high in 2023, impacting housing demand and the amount of time that homes are left on the market. Some predict an interest rate drop later in 2023 that could trigger small booms in certain areas across North Carolina, but this has yet to be seen. Caron Jones of Burlington, North Carolina finds that one exception is the luxury market, with deals that often feature fewer concessions and more price negotiations.

Market Begins to Cool in Key Areas

Experts predicted at the start of 2023 that a few of North Carolina’s markets would begin to cool as a result of higher home prices, increasing mortgage rates, etc. While the market still remains robust in 2023, the number of homes sold is down by about 15.4% year-over-year. While there are many factors at play in the cooling market, some maintain that a major cause is consumers returning to old purchasing behaviors and requesting more from the homes that they purchase. That, combined with having more time to consider options and less bidding wars in key areas, is providing prospective homebuyers with more flexibility.  Caron Jones of Burlington, North Carolina notes that, despite the cooling market, several communities are on the rise. Raleigh, Charlotte, Asheville, Fayetteville, Wilmington, and Winston-Salem are frontrunners for such growth.

An Emphasis Placed on Affordable Neighborhoods

The cooling market does not inherently mean that interest in moving to North Carolina has waned. However, due to the previously stated increasing interest rates and home prices, experts are seeing an emphasis on homes in markets that are affordable and have room to grow in this economy. Affordable areas that are not far removed from the amenities of the larger cities and community hubs are attractive options for remote workers and office workers who do not mind a commute for more bang for their buck.

Charlotte, North Carolina Stands as One of the Hottest Housing Markets

Many who follow real estate know that Charlotte has been an increasingly popular city in which to purchase a house, with experts citing factors such as forecasted value home growth, fast-moving inventory, good economic fundamentals, and a large supply of willing buyers as primary reasons for its growth. With the heat of the market, it is worth noting that houses within the area are not as affordable as they once were. In fact, home prices have shot up from a median of $273,500 in January of 2020 to around $420,000 in 202, settling at $395,000 in 2023. Still, Charlotte is seen as a great market for families with its temperate climate, access to amenities, proximity to hotspots up and down the east coast, and high number of local colleges and universities as qualities that continue to attract prospective buyers.

Conclusion

Largely the North Carolina housing market is closely following national trends, cooling after a hot few years. Caron Jones finds that, while it is certainly still a sellers’ market in many areas across the state, homes that are lower than the national median and the NC’s low cost of living will continue to make it a viable location for interested homebuyers.

More from Caron Jones

Caron Jones notes that, as a realtor with years of experience in the housing market, she is in the unique position to share insights that can be valuable to potential buyers, sellers, and even real estate professionals looking to grow their skills. To this end, future posts inspired by Caron’s insights aim to help readers explore important conversations in the field and better traverse the constantly changing market.

Content featured on CaronJonesBurlington.com will include topics such as:

• Real Estate
• Professional Insights
• Recent Industry Developments

Interested in learning more about the real estate industry from the perspective of a realtor? Be sure to tune in frequently for more content inspired by Caron Jones of Burlington, North Carolina’s insights.