AGENT 1
Oct 12, 20202 min
With mortgage rates at all-time lows and Americans πΊπΈ saving more than ever, now may be a good time β° for individuals and families π¨βπ©βπ§βπ§ considering homeownership to take a serious look π at their options. Buying a home π‘ for the first time requires significant research π and thought.
High demand β«, low supply β¬ and low mortgage π¦ rates have driven up home prices to historic highs this summer βοΈ. And for every $1,000 price increase βοΈ, some 150,000 potential buyersπ€ are priced out of a home π purchase β keeping them in the rental market.
Presidential elections π³ are an easy scapegoat π for changes in consumer spending π. Uncertainty can, and does, have an impact on growth, but extentΒ and duration are what matter.Β As 2020 planning π gets underway, what is the relationship between presidential elections πΊπΈ and new home sales?
Β Consumer advocates have long criticized βοΈ traditional real estate commissions π² as confusing π€·ββοΈ and too high. Now, those commissions are coming under increasing legal βοΈ pressure π₯΅. A federal judge π©ββοΈ in Illinois ruled last week that a potential class-action lawsuit against the National Association of Realtors and four major brokerage companies could proceed.
Ready or not, the 2020 presidential election πΊπΈ is upon us, and its potential effect on our industry πͺ should have us all paying close attention π§. Election years typically mean instability in the stock market π as investors tend to be skittish during rocky political environments. That sentiment, unfortunately, trickles down to the housing market. Below are a few key factors we are watching in the upcoming year π.