How the Government Shut Down Could Effect the Real Estate Market

It’s not totally cut and dry on the government shutdown and it’s effects on the real estate market, but hopefully it will be resolved quickly. The last shut down occurred in 1997 and lasted 21 days. A long term shutdown would potentially hurt the real estate market because the feds would cut federal expenditures and interest rates could spike. Most believe the impact will hit the stock market as we have seen the last few days.

Owners who are selling their homes and home buyers should have minimal impact according to most experts unless the shut down lasts long term. Any buyers should contact their current lender to gauge their view on the process and ensure their loan can proceed as normal. Likewise, sellers can visit with their real estate agents so they can be in communication with the other brokers.

Let’s all hope for the best!