A
s we navigate post-election sentiment, it's clear that this time around was different from past experiences of pre-election uncertainty. The market remained active and even showed signs of growth ahead of the election, defying expectations. Key metrics such as monthly contract activity, market pulse, and liquidity pace chart all rose substantially compared to last year.
The reasons behind this confidence are multifaceted: interest rates have decreased, making it more affordable to buy; life circumstances require people to move, entering the marketplace out of necessity rather than choice; and sentiment has shifted, with people feeling better about their circumstances or the economy. These factors combined to outweigh election uncertainty.
We're unlikely to see 2-3% interest rates again anytime soon, as we're currently in the high 6% range. The past decade's low rates were an anomaly, giving us a "sugar high" that has since worn off. This increased activity has created a balanced marketplace where buyers and sellers can negotiate without excessive competition.
Looking ahead, the pace of this market suggests substantially increased activity and more sellers will feel comfortable selling as economics improve with continued easing rates. Expect a busy market with rising prices due to supply and demand forces. We'll monitor this together and stay tuned for developments.
When considering buying or selling, it's essential to assess whether the time is right and choose a trusted broker who can guide you through the process.
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