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s the calendar flips to 2025, it's clear that this year will be marked by significant shifts in the real estate landscape. With new laws and regulations taking center stage, buyers, sellers, and renters alike are bracing for impact. According to McKenzie Ryan, a seasoned real estate agent, "Uncertainty is always present when a new administration takes office, and it's natural to wonder how their priorities will affect the market." However, Ryan notes that this isn't the first time the industry has navigated uncharted territory – 2020 marked the beginning of a long journey of uncertainty.

    One area where change is palpable is in affordable housing. California's Senate Bill 9 has undergone significant revisions, clarifying that duplexes and lot splits on single-family residential lots can only be denied if they pose a public health or safety threat to tenants. Meanwhile, New York City's amendments to the City of Yes for Housing Opportunity initiative will make it easier to repurpose commercial buildings into residential spaces. The rise of accessory dwelling units (ADUs) is also expected, with states like Arizona and Nebraska establishing new regulations allowing ADUs on residential lots.

    Renter's rights are also receiving a boost in 2025. The Fair Chance Housing Act in New York City limits landlords' ability to consider an applicant's criminal history, while the FARE Act prohibits them from passing brokerage fees onto tenants. These changes may not only benefit renters but also impact real estate investors who rent out properties.

    Mansion taxes are another trend making waves across the country, with states like New York, New Jersey, and Maryland implementing their own versions of this pricey phenomenon. In Los Angeles, an additional four percent tax is imposed on properties purchased for $5 million or more – a trend that's likely to spread to other cities and states.

    Finally, there's speculation about interest rates remaining low under the new administration, which could stimulate the housing market by making mortgages more affordable. As Ryan notes, "It's becoming more normalized for people to move whenever, even if they have to pay more per month."