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How Does the Trump Administration Affect the Real Estate Market?
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A lot has changed since election night on November 8th. Here’s what we’ve seen in the real estate market since.
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Since Donald Trump was elected on November 8th, our real estate market has changed a lot, for better and for worse.
Let’s start with the bad news first. Since the election, interest rates on mortgages have increased across the board. They are up over 4% now. Buyers who would have been able to purchase before the election might not be able to now. However, a 4% rate is still phenomenal when you compare it to the rates we’ve seen in the past that were well in the double digits.
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Now for the good news. There does seem to be a renewed sense of optimism in the real estate market, especially here in Rochester. Just the talk of lowering taxes, whether it happens or not, has increased optimism and home values. There does seem to be a renewed sense of optimism out there.
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If you have any questions or want more details about the Trump administration's effects on the market, give me a call or send me an email.
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