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Election years often bring a bit of uncertainty to the real estate market. Many buyers and sellers tend to take a “wait and see” approach, watching for potential changes before making major decisions. Now that the election is behind us, attention is shifting to the factors that will shape the market moving forward—most notably, interest rates and inventory levels.
Here’s what we’re keeping an eye on:
Interest Rates: If rates begin to drop, we could see a significant surge in buyer activity. Many would-be buyers are currently sitting on the sidelines, waiting for affordability to improve. Lower rates could unlock the door to homeownership for this group.
Inventory Challenges: The low number of available homes continues to put upward pressure on prices. Even with pent-up demand, affordability will remain a challenge if inventory doesn’t increase to meet it.
Affordability: These two factors—rates and inventory—will dictate affordability. If they align favorably, the market could experience a renewed wave of activity.
