RE Rundown (10/11/20)
- AGENT 1
- Oct 11, 2020
- 2 min read
With mortgage rates at all-time lows and Americans šŗšø saving more than ever, now may be a good time ā° for individuals and families šØāš©āš§āš§ considering homeownership to take a serious look š at their options. Buying a home š” for the first time requires significant research š and thought.
High demand ā«, low supply ā¬ and low mortgage š¦ rates have driven up home prices to historic highs this summer āļø. And for every $1,000 price increase āļø, some 150,000 potential buyersš¤ are priced out of a home š purchase ā keeping them in the rental market.
Presidential elections š³ are an easy scapegoat š for changes in consumer spending š. Uncertainty can, and does, have an impact on growth, but extentĀ and duration are what matter.Ā As 2020 planning š gets underway, what is the relationship between presidential elections šŗšø and new home sales?
Consumer advocates have long criticized āļø traditional real estate commissions š² as confusing š¤·āāļø and too high. Now, those commissions are coming under increasing legal āļø pressure š„µ. A federal judge š©āāļø 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 šŗšø is upon us, and its potential effect on our industry šŖ should have us all paying close attention š§. Election years typically mean instability in the stock market š 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 š.
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