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2020 has been a year unlike any other in recent memory and now the country is facing a highly contentious presidential election. It’s no surprise investors and industry experts are wondering how the upcoming election could affect the real estate market. Regardless of which candidate wins, there are several historical election year trends worth reviewing. Take a look at our recent blog post to see what the experts say about likely scenarios.
Doomsayers predicting a forbearance-induced housing crash in 2021 are dead wrong, writes HousingWire data analyst Logan Mohtashami. “Demographics, mortgage rates, solid nested equity, jobs coming back — all of these make it seem very unlikely for the bubble crash to happen next year,” argues Mohtashami. Don’t miss his data-driven explanation of why the “Forbearance Crash Bros” have it all wrong…again.
Consumer housing sentiment has improved for the second month in a row, according to Fannie Mae’s Home Purchase Sentiment Index (HPIS). The index “has now recovered more than half of its decline from the beginning of the pandemic,” reports Doug Duncan, Fannie Mae’s senior vice president and chief economist.
“The pandemic has re-ordered real estate markets across the board on an unprecedented scale,” writes Forbes contributor Peter Lane Taylor. Major shifts in how we work, socialize and shop could be here to stay. Taylor argues the way Americans live in the “new” pandemic normal will play a huge factor in which cities and states experience growth, demand, and price appreciation over the next 3–5 years.
The latest data shows home prices rose 5.9% year-over-year and 1% compared to the previous month. And for the entry-level segment of the market, prices are up nearly 9% from last year. “These numbers usually move in fractions, not full percentage jumps,” reports CNBC’s Diana Olick. Check out the video to see where home prices are hottest.
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