If Buyers & Sellers Were ‘on the Fence’ Awaiting Election Results, Where Are They Now?
The conventional wisdom a month ago was that buyers and sellers were holding off of their plans, waiting to see who won the presidential election. But that wasn’t entirely true. In fact, the number of closings this October were higher than last October, and the number of sellers who put their homes on the market was markedly higher than the prior two Octobers.
Nevertheless, the numbers for all three of the Octobers that occurred after the 2022 spike in interest rates pale in comparison to the statistics for the three prior Octobers, when interest rates were low. Here are the stats from REcolorado for the 20-mile radius of downtown Denver:
Even dispelling that conventional wisdom, however, we can’t deny that there were some jitters about this year’s election which were putting a damper on some members of the public acting on their desires to buy or sell real estate. In fact, the election may have spurred some buyers and sellers to start making plans who had no thoughts of moving if the election went “their way.”
Enter Redfin, which commissioned an Ipsos survey to find out how the election results impacted the real estate market. The results are worth sharing.
The survey was done on the Thursday and Friday after the election and reached 1,005 U.S. residents — 416 Republicans and 381 Democrats, 486 men and 509 women, and 302 people aged 1834, 347 people aged 35-54, and 356 people aged 55+. 553 respondents were homeowners and 330 were renters; 427 reported earning under $50,000, 379 earn between $50,000 and $100,000, and 199 earn over $100,000. The survey responses are summarized in the chart at right.
Here are some highlights from the survey which you may find interesting, as I did:
Of the 22% of respondents who replied that they are more likely
to move after the election, 36% said they are considering a move to another country, and 26% are thinking about moving to another state. This was a national survey, so perhaps those considering a move to another state live in one of the 13 states which severely restrict or ban abortions. Since Colorado is not one of those states which restrict abortion — and in fact just passed a constitutional amendment protecting reproductive rights — the survey suggests that we may see an influx of people moving here for that reason. A separate survey commissioned by Redfin found that 27% of U.S. residents would be hesitant to live in an area where most residents don’t share their political views.
Reminiscent of 2016, Google searches about leaving the country spiked following Donald Trump’s victory.
Here are the percentage increases for searches “moving to…” these countries:
New Zealand—up 7,600 percent
Germany—up 4,200 percent.
Netherlands—up 3,233 percent.
Ireland—up 2,400 percent.
Norway—up 1,150 percent.
Australia—up 1,150 percent
Portugal—up 1,100 percent
Also, more general searches for “Moving to Europe” surged by 1,566 percent. Searches for “Moving to English-Speaking Countries” surged by 1,328 percent.
Theoretically, such sentiment could spur real estate activity, but I’m not
Our Highlands Ranch & Lone Tree Specialist
Greg Kraft - 720-353-1922
Email: Greg@GoldenRealEstate.com
A native of Chicago, Greg passed the Illinois Bar and CPA exams in 1974, but moved to Avon CO in 1982, where he owned and operated a property & rental management company and developed, built and sold townhomes until 2001. That’s when he moved to Highlands Ranch with his wife, Lynne, who has been a community manager there. As a result, Greg is very aware of current issues and home values in the area. He recently listed and sold a home in Lone Tree.
aware of any Americans who acted on such Google searches in 2016, and I don’t expect to see many now. I know that Rita and I have no plans to leave the country. Moves based on reproductive freedom, however, I think will occur — including by gynecologists, as has already been reported.
Some other observations from the Redfin-Ipsos survey included the following: Of the respondents who said they are more likely to move post-election, 17% said the results of the election have made them more likely to consider buying a new home. 12% said the results have made them more likely to consider selling their current home. Roughly the same share (13%) are now more likely to rent a home.
In a September Ipsos survey also commissioned by Redfin, 23% of would-be first-time home buyers said they were waiting until after the election, wanting to
Of those surveyed, 22% say they'll consider moving now that the election is over. Among them, 36% are considering relocating to another country, while 26% are thinking about moving to a different state
see what the winning candidate might do to increase the availability of affordable housing. Given that Kamala Harris had promised $25,000 down payment grants to first-time homebuyers, it makes sense that they would wait to see if she won instead of buying a home using today’s more modest incentives. Maybe those buyers will indeed get off the fence now that she lost and Donald Trump made no such promise.
Call Wendy Renee, our in-house loan officer, if you’d like to know about the already existing programs for first-time homebuyers. Her cell number is below.
Tesla’s ‘Full Self-Driving’ Is Great, But Too Expensive
When Elon Musk first introduced it, I was skeptical of Tesla’s Full Self-Driving software (FSD) ever working in a way that I would find safe and effective. Others must be skeptical, too, because Tesla recently enabled a free 45-day trial of the software in suitably equipped cars, including my 2023 Tesla Model Y. My free trial expires on Nov. 24th.
Having bad-mouthed FSD in the past, I owe it to Tesla and my readers to share my favorable impression of it after putting many miles on my Model Y using FSD, including a road trip to Las Vegas.
In town, I was impressed that the car slows down for speed bumps and dips. How does it know they are there?
With the earlier Autosteer software, my Teslas were dependent on recognizing painted lane markings and would not cross a solid line, but FSD has no problem crossing solid lines when it is safe to do so — for example, giving a wide berth to a bicyclist by crossing the double yellow line, but only when no cars are coming in the opposite direction.
I was impressed at how it handled construction zones. Picture a construction zone with 2½ lanes of a 3-lane interstate closed off with traffic cones. My Tesla simply straddled the solid line between the cones and the edge of the pavement.
I never thought the software would be good at roundabouts, but it is perfect. It slows down (as it does on any curve) and assesses whether another car is remaining in the roundabout and whether a car to the left is entering the roundabout.
And here’s one area where the software is indeed safer than most humans: it assesses cars that are approaching from a road or driveway. If it looks like the vehicle might not stop or yield, the Tesla slows down to make sure. This wide perception alone could eliminate T-bone col-
lisions with cars running red lights. If I’m in the right lane and it sees a car entering the highway, it shifts to the left lane, assuming there’s an opening. Otherwise it slows down to let the car merge, assuming the spacing is right. It also does well merging from the on-ramp. It responds to other cars’ turn signals, slowing to allow them to merge. It would also move to the left when it spotted a stopped vehicle in the breakdown lane. It recognizes pedestrians and how they are moving, such as toward a crosswalk. At night on an unlit street, it saw a pedestrian in dark clothing that I didn’t see. I also love the display of surrounding traffic, bicycles and curbs on the screen. In slow traffic, it stops to let a pedestrian cross the street. At stop signs, it knows when it can turn left or right onto a busy arterial, or I can press the accelerator to make a bolder entry than it wanted.
FSD’s full name is now “Full SelfDriving (Supervised.)” A camera mounted above the rear view mirror monitors the driver. If you are not looking straight ahead, it alerts you to “Pay Attention to the Road.” This replaces earlier Autosteer software which required you to apply slight turning pressure to the steering wheel every so often to prove you’re there. Somehow, driving at night when the cabin is pitch dark, the camera still knows when I’m not looking ahead. When the car detects bad weather it warns that FSD is “degraded,” and it will require the driver to take over when it can’t trust itself to make good decisions.
I’d pay for this improved FSD if it were more affordable, but $99/month or the $8,000 purchase price is simply too high. I’ll let the free trial lapse. I have more to say, and screenshots are included, on the posting of this article at http://RealEstateToday.substack.com
Nina Lorene Billinger May 28, 1938~ November 5, 2024
It is with heavy hearts that we announce the passing of Nina Billinger, beloved mother, grandmother, and friend. Nina was born on May 28, 1938 to Pete John Trabucco and Helen May McDowell. Nina passed away on November 5, 2024.
Nina was raised in the close-knit community of Florence, Colorado and attended Florence High School before continuing her education at Pueblo Junior College.
She married Gerald Billinger, and together they shared a deep and lasting love that carried them through 47 years of marriage. Known for her strength and dedication, Nina spent much of her career as a branch manager in consumer lending before ultimately transitioning to serve as a Revenue O cer for the State of Arizona—a role that she embraced with commitment and pride.
Nina was a woman of many passions and talents. She had a love for cooking and could often be found in the kitchen preparing delicious meals for her family. She adored traveling, dancing, and playing music, lling her life and those around her with energy and joy. A card game with Nina was
always lively, as her quick wit and competitive spirit made for unforgettable evenings!
Following the passing of her husband, Jerry, Nina found companionship and love once again with Robert Corscadden, whom she married in 2010. Together, they created new memories and cherished every moment shared.
Nina is survived by her devoted sister, Joann Graham, children, Deborah (Brian) Betz, Pamela (Kenneth) Quillen, and Je rey Billinger (Hector Beleche), who will carry forward her legacy of love and resilience. Her light lives on through her four grandchildren, Jonathan, Melony, Ian, and Emmy and 8 great-grandchildren.
In her nal years, Nina bravely faced the challenges of Alzheimer’s disease at Hyland Hills Senior Living in Westminster, Colorado. Her strength, grace, and vibrant spirit touched everyone she met, leaving behind a legacy of love, laughter, and resilience.
Nina will be dearly missed by all who knew her. Her memory will be a guiding light in the lives of those she loved, and her spirit will live on in the countless hearts she touched.
