Now, that the world has had a couple of days to digest the stunning Brexit vote, Redfin's Lorraine Woellert is breaking down exactly what it means for the American housing. Put simply, it's a mixed bag.
Prices could temporarily fall in certain markets.
Nationally, price growth might slow in the near term. Buyers with money in the stock market aren’t as rich as they were yesterday and they’re spooked.
On the other hand, mortgages could get cheaper.
Typically, mortgage rates fall when Treasury rates fall, and Treasuries took a dive last night as money poured out of the U.K. and elsewhere into the safer bet of U.S. markets.