How did the November 8th election affect our local Houston market?

There is a knee jerk reaction of less buying activities before presidential elections.

It was clearly felt in September and October. Hence there was a surge in home sales in November as documented in the Houston association of realtors monthly press release:

http://www.har.com/content/mls/

In my business, I sell properties roughly from 150k to $1M and what I see from my listing activity is that there are lots of buyers in Houston, the banks are still lending quite easily and at low rate. The lending process takes on average 5 more days with the new regulation requirements but the bank deliver the results in the end.

Hence it is fair to say that the fact that the presidential election has passed has waived uncertainty.

This scenario is not new and the slowdown in real estate purchase six months’ prior elections has been documented for many decades.

The next question people have in mind is: how will real estate taxation change?
Every year, there is discussion about changing the tax treatment of real estate investments which is very favorable to owners. It is fair to assume there will be no change on this matter based on the president’s elect real estate background and his ‘relationship’ with the IRS.

Now that this election is passed, we are back to business as usual, and I received quite a few phone calls of buyers in the weeks after the election.

Will you be my next call?

[email protected]  713 397 8857