It is unclear how having elected the first business person with no prior political experience and a heavy background in real estate as the nation’s president is going to influence the housing market. In the hours and days after the election, financial markets became quite volatile due to the uncertainty. However, it doesn’t seem as though demand from aspiring home buyers will be shrinking in the near future.
In the Twin Cities region, for the week ending November 5:
• New Listings decreased 7.4% to 1,096
• Pending Sales increased 9.4% to 980
• Inventory decreased 17.8% to 12,706