As the new Presidential administration starts to settle in, there are a multitude of questions on many Americans’ minds – one being whether or not President Trump will have an effect on the value of your home.
In a country where home ownership is oftentimes referred to as being the “American Dream,” it is easy to see why those who own their residence may have some concerns as a new leader steps forward.
Any time there is a change in the economy, there is a chance that there will be effects – either positive or negative – on investments and the value of homes. And, there are a number of related factors that can also make an impact, such as:
- The direction of interest rates
- The performance of the stock market
- Jobs and / or unemployment figures
- Supply and demand (in the case of home value, whether it is a buyers’ or a sellers’ market)
When it comes to the value of individual homes, there can also be various factors that make a difference, such as the home’s location, and whether or not there are updates and / or major repairs that may be needed.
While the change in our country at the top is still in its initial stages, over the past few months, the home ownership rate in the United States has ticked upward somewhat. However, it may still take some time before any of the ripple effects on housing values take hold.
If you’re wondering how much your current home is worth now – or even in the near future – Contact Us when the time is right, and we will be happy to provide you with a free, no obligation analysis of your home’s value. With this knowledge, you can then determine whether you want to stay put, or if now would be the ideal time to move forward with the purchase of a new home.