U.S. home sales should rebound following November’s presidential election, regardless of who wins, Douglas Elliman, a broker at Noble Black, told CNBC.
While luxury areas such as Miami and the Hamptons in New York have been busier than usual, there’s been pent-up demand for homes in the broader residential market, said Black, who has more than $3 billion in sales and has brokered several record-breaking New York deals.
“People who have kind of stood on the sidelines; they seem to be waiting until the election has settled,” Black said. “It doesn’t really matter who wins the election, but once that’s settled people come back into the market.”
