Real estate market reacts as Trump returns for second term

Buyers and sellers in the real estate market have been closely observing the impact of the 2024 presidential election, with some now ready to make decisions following Donald Trump's return to the White House for a second term.

Realtor.com has documented the experiences of two homebuyers and one seller who paused their plans due to high mortgage rates and anticipated changes from the Federal Reserve. Recent data from Freddie Mac indicates that mortgage rates for a 30-year fixed home loan dropped from 6.81% to 6.69%, marking their lowest level in over a month. The Realtor.com 2025 Housing Forecast predicts an average mortgage rate of 6.3% for the year, ending at 6.2%.

Jonathan Ross, aged 47, and Jennifer Ross, aged 45, from Fort Worth, Texas, were encouraged by the election results to proceed with buying a house near Park City, Utah. Jonathan expressed that "the outcome of the election definitely helped build our confidence to buy a house as expensive as the one we made an offer on." He added that if Trump had not won, they might have considered investing in Europe instead.

Camille Bradbury, aged 39, listed her Taos, New Mexico home for $1,250,000 just before the election after extensive preparation. She noted an increase in buyers due to ski season and anticipates that "the Realtors expect the election will entice people to make a change." Bradbury and her partner plan to rent after selling their property while deciding on their next move.

Yancy Forsythe, aged 42 and a real estate investor from Kansas City, Missouri, has decided to pause his search for investment properties until after the holidays. Despite no noticeable impact on his local market post-election so far—where "sellers are still overbidding for homes"—he remains cautious about various factors like inflation and unemployment rates affecting his future decisions.