Following the COVID-19 pandemic, active listings for single-family homes fell conspicuously due to public health concerns and mandated stay-in-place orders. Naturally, this framework sparked a demand bottleneck, cynically benefiting homebuilders as society gradually normalized. However, incoming political shifts could present concerns for the broader housing market.

Specifically, President-elect Donald Trump throughout the campaign trail for the 2024 election broadcasted anti-immigration sentiments. Combined with his proposed tariffs on building materials, Trump's policies could drive construction costs higher. Potentially, such a development could negatively impact demand as most Americans have struggled to get ahead of the paycheck...