Real Estate News 11/08/2024

Today’s News Synopsis:

After a hotly contested race with big implications for the housing market, Donald Trump will return to the White House for a second term, four years after losing his first bid for reelection.

In The News:

Realtor.com – “Donald Trump Will Return to the White House: What His Presidency Means for the Housing Market“ (11-06-2024)

“A Republican sweep of the House and Senate would give Trump significant freedom to pursue his agenda, including what plans he has sketched out to make housing more affordable.”

FOX Business – “How Trump’s win could impact the housing market“ (11-07-24)

“The U.S. housing market was a major issue for voters in the 2024 presidential election, as low inventory continues to drive home prices to new highs. The eye-popping price tags of homes coupled with elevated mortgage rates in recent years have pushed the American dream out of reach for an increasing number of Americans in a prolonged affordability crisis.”

Redfin –  “Pending Home Sales Held Steady in Final Run-Up to Election Despite 7% Mortgage Rates” (11-07-2024)

“While home sales remained mostly resilient to election jitters and rising rates, Redfin agents report that some house hunters were waiting to hit the pavement until they knew more about the direction of the country and economy. ”

MPA Mag –  “What does the typical US homebuyer look like?” (11-05-24)

“The age of a typical homebuyer jumped to an all-time high of 56 in the US, with many young people locked out of the housing market while older owners tap their accumulated home equity for cash purchases or to make large down payments, according to a report.”

CNBC –  “Trump promised no taxes on Social Security benefits. It’s too soon to plan on that change, experts say” (11-06-24)

“On the campaign trail, Republican presidential candidate Donald Trump made a notable promise to retirees: No taxes on Social Security benefits.”