How will the Incoming Administration Affect the Housing Market?

A new administration is imminent in Washington. Especially with a change of parties, there is speculation of how will this change affect our economy and specific industries.

Housing Economy 2016It’s no different in real estate. With home buying often being a key indicator of economic growth in the United States, the industry is buzzing with predictions. Though making predictions is not a new trend, this year seems like economists are approaching uncharted waters, dealing with more unprecedented unknowns.

How much are these uncertainties affecting motivations of home buyers and sellers?

These reports indicate that even with the approaching uncertainties in Washington, the real estate industry is not forecasting a doom and gloom scenario. While there is some skepticism when looking the market, most real estate professionals are taking more of a conservative approach on their predictions for 2017. According to these two recent articles from real estate industry websites, using current trends and data from real estate professionals in 2014 and 2016, there is only a slight drop in confidence in the industry’s outlook. Most real estate brokers / owners are feeling only slightly less confident in the industry forecast and their profits than they were two years ago. According to the article, confidence in their local economy and industry is stronger  than in the national economy.

Interestingly, with reviewing the web traffic post-election on realtor.com, the study revealed that traffic on the site has increased back up to the summer levels. And international website traffic from certain areas abroad, while fell post-election from specific countries: Hong Kong, India and the U.K., it gained momentum from other countries such as Russia, Colombia and Spain.

According to a recent survey executed by realtor.com to its homebuyer users, “Seventy-nine percent of those surveyed said the election had ‘no impact’ on their plans to buy a home, and, in fact, 10 percent said they were more likely to buy a home now that the new administration has been determined.”

So the takeaway of both of these articles is that the upcoming administration has not deterred home buying or selling, nor affected the confidence in the housing industry dramatically. And confidence in the real estate market and the local economies remains strong despite the outcome of the election.

If you are proceeding with buying or selling in the Atlanta market, contact one of our Red Robin agents today. We are intown Atlanta neighborhood experts! We can help you find the best nest in the intown Atlanta neighborhood of your choice. Or, we can sell your nest for the best price.

Sources…

“Study: Real Estate Industry’s Outlook Softens for 2017”

“A Non-Effect? Would-Be Homebuyers Unshaken by Election”

posted: Dec 19, 2016 | No Responses

Posted by:  Red Robin

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