RE Rundown (10/11/20)
- AGENT 1
- Oct 11, 2020
- 2 min read
With mortgage rates at all-time lows and Americans 🇺🇸 saving more than ever, now may be a good time ⏰ for individuals and families 👨👩👧👧 considering homeownership to take a serious look 👀 at their options. Buying a home 🏡 for the first time requires significant research 📚 and thought.
High demand ⏫, low supply ⏬ and low mortgage 🏦 rates have driven up home prices to historic highs this summer ☀️. And for every $1,000 price increase ↗️, some 150,000 potential buyers🤑 are priced out of a home 🏠 purchase — keeping them in the rental market.
Presidential elections 🗳 are an easy scapegoat 🐐 for changes in consumer spending 🛍. Uncertainty can, and does, have an impact on growth, but extent and duration are what matter. As 2020 planning 📆 gets underway, what is the relationship between presidential elections 🇺🇸 and new home sales?
Consumer advocates have long criticized ☝️ traditional real estate commissions 💲 as confusing 🤷♂️ and too high. Now, those commissions are coming under increasing legal ⚖️ pressure 🥵. A federal judge 👩⚖️ 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 🇺🇸 is upon us, and its potential effect on our industry 🏪 should have us all paying close attention 🧐. Election years typically mean instability in the stock market 📈 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 🗓.
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