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This is a $125,000 increase from five years prior and a $161,100 increase from a decade ago.
Along with that,mortgage interest rateshave risen over the years.
Heres what a Donald Trump presidency could mean if you plan to buy property in 2025.
Policy positions have a greater impact on the economy than the market.
For example, Trump signed theTax Cuts and Jobs Actof 2017 into law during his first term.
Previously, Trump also prioritized deregulation and tax cuts.
This could mean greater economic growth, which could in turn increase disposable income for many Americans.
This also could increase housing demand, though it might not make homes more affordable.
There is still a shortage of inventory relative to the population.
A few years ago,Freddie Mac conducted a studyabout the housing supply shortage.
There was a housing shortage of approximately 2.5 million homes in 2018.
In 2020, there was a shortage of around 3.8 million units.
The housing stock deficit rose by about 52% during these two years.
But why did supply dip?
Having such a resilient residential housing market is one of them.
But past policy is still keeping a lot of supply off the market.
They could also rise or decline.
The dynamics ofresidential real estatelooks much more stable than that of commercial real estate.
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