T
he housing market may see a surge after the election, according to one real estate expert, but another expert cautions that excitement might be premature. Ryan Serhant, a well-known broker and star of Million Dollar Listing, believes buyers and sellers should prepare for changes in the market following the election. He points out that inventory is up, interest rates are at 20-month lows, and people are waiting to see how deals will unfold.

    Serhant is optimistic about the market's future, predicting a "roaring" 2025 once mortgage rates reach 5-4 percent, which he believes will bring more liquidity. He notes that elections often impact the housing market by changing confidence levels and interest rates through Federal Reserve decisions. Lower inflation could also boost the market as more Americans become able to afford homes.

    However, not all experts agree with Serhant's assessment. Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, thinks it's premature to expect a strong start in 2025. He points out that interest rates are still higher than they were a few years ago, leading to higher monthly payments and making it difficult for some buyers to afford homes.

    Beene notes that housing prices remain at historic highs in many cities, with the median U.S. home list price around $432,000, according to Redfin. He believes next year will be stronger than this one for housing sales but cautions that there are still headwinds to overcome before the market surges ahead.