By Serj Markarian, Licensed Real Estate Salesperson and Manhattan Market Expert

With the results of a historic presidential election still fresh, I know many are wondering how the housing market could be affected by the new administration. To start, we’ve seen a slight spike in the 30-year fixed mortgage rate, which jumped 9 basis points to 7.13% after Tuesday’s night’s election results—a new high since July 1, as reported by Mortgage News Daily.

Historically, the real estate market doesn’t tend to shift immediately after an election. Instead, it often experiences a psychological effect, with people feeling more confident in their buying decisions. One NYC real estate broker noted that she’s received a wave of offers on her listings in the past 24 hours—a reminder that, for many, the market feels more certain post-election.

Bryson Taggart from Opendoor suggests that the election results can influence the housing market. In a recent Opendoor report, nearly half (49%) of baby boomers surveyed said the outcome of this presidential election could impact their decision to move within the next five years. Additionally, some people choose where to live based on their political leanings—a trend known as “political sorting”—influenced by local policies, tax structures, and lifestyle preferences that align with specific beliefs.

Lastly, while it’s natural to consider the election’s impact, I recommend focusing on your long-term goals when making real estate decisions. The market itself isn’t likely to experience drastic changes in the months ahead, even as the new administration transitions in January. Policies that could affect housing will take time to implement, so now may be as good a time as any to move forward with your plans.

If you have questions or would like to discuss this further, feel free to reach out. I’m here to help you navigate these times with confidence.

For questions on the Manhattan real estate market, connect with Serj Markarian here. 

Posted by Hannah Minnick, BHS Content Team