Edward Mermelstein | Source | Principal at One & Only Holdings at One & Only Holdings

There's very much an optimistic feel in the air. That positivity is something that everyone is counting on, and it's going to create a wave.

With the new administration’s plan to offer housing incentives, we can expect to see an uptick in the housing market. The luxury real estate front will continue to experience the slowdown that started two years ago, however, areas that have been battered throughout the pandemic such as San Francisco, Los Angeles, and New York City should begin to pick back up with federal aid in the new year.

Yellen is being welcomed by real estate markets. With strong credit standards, banks have secure levels of liquidity, and low delinquency rates given the economic crisis. Expectations are that interest rates will remain low, continuing a supportive environment for a real estate recovery in gateway cities most hurt by the pandemic and dearth of foreign investors.