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ivingston County residents are facing a challenging real estate market, with experts attributing Donald Trump's presidential win to economic concerns such as high housing costs and inflation. While inflation has slowed, mortgage rates remain around 7% for fixed-rate loans, making it difficult for locals to purchase or sell homes.

    According to Scott Griffith, co-owner of Griffith Realty in Brighton, the issue is not just interest rates but also supply and demand. With a low supply of homes and high demand, especially among first-time buyers, prices are being driven up. Many homeowners are hesitant to sell because they secured mortgages at lower rates, contributing to a slow pace of home sales.

    The residential real estate market in Livingston County can be characterized as a seller's market, with most properties selling at or above asking price. Griffith notes that the likelihood of purchasing a home for less than asking price is still low. While there are some positive trends, such as more homes being purchased with mortgages rather than all-cash offers, first-time buyers are still facing high prices.

    Options under $300,000 remain available, but buyers can expect to get less for their money compared to four years ago. Renters are also experiencing financial anxieties, with rents increasing steadily and often exceeding the mortgage payments of established homeowners. Some employers in the hospitality industry are even purchasing homes for their employees to address the housing shortage.

    To alleviate the supply issue, Griffith suggests that local government and community leaders consider lifting restrictions on ancillary housing, such as renting rooms above a garage or in a small guest house. This could lead to more income for homeowners and affordable housing for tenants. Until then, the real estate market is unlikely to see significant change.