There's so much anxiety today about the election. I can feel it. Can you? Well, I did my part and voted, and I even encouraged the younger generation of the family to vote. With so much uncertainty about the future of the country, I am encouraged about what was discussed in our office meeting today and I just couldn't wait to ease some anxiety by sharing what the real estate professionals speculate about the future of the housing market.
1. Demand Is Strong among Millennials – they are the driving force of the strong housing recovery.
2. Mortgage Rates Are Historically Low – Expected to continue to be low and help drive the market.
3. Prices Continue to Appreciate – Lack of supply is creating home values to increase.
4. History is expected to repeat itself! The month of November is usually slower but the year after the presidential election is usually the best of the four year cycle suggesting that the demand for new housing gets pushed out to the following year. As long as the economy stays on track and the coronavirus gets under control economists expect the strong housing momentum to continue for the months to come.
Hope you feel some relief from this to help get you through the day! God bless America!