Yesterday afternoon, amid the three whirling table saws, electric sanders, a needy dog and wonderful texts from a friend I miss so much, I sat through this month's market data meeting. To be honest, my heart wasn't in the meeting. But there were a few takeaways:
Historically, interest rates and home prices do not change significantly during a presidential election year--or even immediately afterwards.
This is my fourth presidential election as a real estate agent. I have often heard folks on the fence, stating they were afraid of whatever the next administration might do. Therefore they don't want to make a move "right now." No worries. According to the folks in the meeting yesterday, it doesn't matter.
Currently there are 3.85 buyers for every seller.
There is no inventory. We aren't in a bubble because there aren't extra vacant homes out there. Essentially: supply is exceeding demand. Does that mean there will be a real estate slowdown at some point? Sure.
But we need the folks from California to go elsewhere first.
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