“A lot of people spent last week glued to their screens and put off home tours or listing their homes until we got some certainty around the election results,” said Redfin chief economist Daryl Fairweather. “Now that most of the elections have been called, people are resuming their plans to move. Some homebuyers and sellers have told us that a change in leadership and positive news about a vaccine have motivated them to come off of the sidelines. Still, prices will continue to surge as long as there is an imbalance between sellers and buyers. While low mortgage interest rates motivate homebuyers to buy, homeowners can take advantage of low rates by refinancing and staying put.”
