November 5, 2024 | Driving It Home with ABoR's Housing Economist

In this episode of Driving It Home, Dr. Clare Knapp and Danielle Hammett focus on the potential impact of the presidential election on the housing market, especially in Austin. Dr. Knapp explains that while there's an assumption that elections influence the economy and, by extension, the housing market, the Federal Reserve’s role in setting interest rates generally limits any direct impact. Mortgage rates, influenced more by the 10-year Treasury yield than by election outcomes, are the biggest factor affecting home sales, meaning election results rarely have a significant effect on the housing market.   Austin’s unique market is also discussed, noting that election years have shown slightly better sales performance in the past, though this is attributed more to economic cycles and market trends rather than the election itself. For instance, sales were higher in 2020 due to the COVID-19 housing boom, not solely because it was an election year. Dr. Knapp emphasizes that the local market’s resilience and its response to broader economic forces are more significant factors for agents and buyers to consider.   The episode closes with advice for real estate agents on guiding their clients through election-related anxieties and focusing on local market trends over national headlines. They encourage agents to use available resources, such as downloadable market insights, to help clients understand real-time data and make informed decisions.   Links MentionedABoR Voter Resource Hub | https://www.abor.com/vote September Central Texas Housing Report | https://www.abor.com/marketstatistics UnlockStats | https://www.abor.com/unlockstats UnlockStats Lab | Nov. 19 | https://www.abor.com/course-type/market-data-labs Market Data Lab | Nov. 19 | https://www.abor.com/course-type/market-data-labs   Listen On: Apple: https://podcasts.apple.com/us/podcast/driving-it-home-with-abors-housing-economist/id1714289732 YouTube: https://www.youtube.com/playlist?list=PLzH_caxJ3VPq5iExWilqZOahnREgSFgqC  Connect with us on socials: https://www.abor.com/socials Connect with Dr. Clare Knapp on LinkedIn: https://www.linkedin.com/in/clare-losey    Have feedback? Email us at [email protected].   Download an episode summary & transcript: https://www.abor.com/content/uploads/2024/11/DIH-11-5-24.pdf