What the November 2026 midterm results could mean for Long Island homebuyers and sellers, mortgage rates, property taxes and housing policy.

Dome of the United States Capitol in Washington, D.C.

The U.S. Capitol, Washington, D.C. Photo: Jomar Thomas / Unsplash, via Wikimedia Commons, CC0. Image supplied with the article.

By Mike Pesce & Ron Lanzillotta, The Pesce & Lanzillotta Group, Berkshire Hathaway HomeServices Laffey International Realty

Updated Wednesday, November 4, 2026, at about 7:45 AM ET. Results are unofficial, counting continues, and some races are still open. We report races the Associated Press or NBC News have called, plus candidate declarations and local reporting that we label as such. Anything not called is marked "not called."

Voters across the country said the economy and the cost of living were their top concerns, and housing is a big part of that. Here's where things stand this morning, and what the results could mean for buyers and sellers in Massapequa, Syosset, Huntington, Manhasset, Garden City and our other North Shore and Gold Coast towns.

We're not endorsing anyone. We're sorting out what's been called, what hasn't, and what it could mean for a move.

Nationally: Democrats Win Both Chambers

House. NBC News and ABC News project that Democrats will control the House, and the AP reports that Democrats won control of both chambers of Congress. NBC's count at 7:44 AM ET showed 231 seats for Democrats and 144 for Republicans, with 60 still uncalled. A majority is 218.

Senate. NBC News projects that Democrats won the Senate, with 54 seats to Republicans' 44. Two races are still uncalled: Mississippi, where the two candidates were tied at 48.9% with about 96% counted, and Alaska, where Republican Sen. Dan Sullivan led Democrat Mary Peltola 48.5% to 47.7% with about 72% counted. Democrats flipped Republican-held seats in North Carolina (Roy Cooper), Texas (James Talarico), Ohio (Sherrod Brown), Kansas (Adam Hamilton), South Carolina (Annie Andrews), Iowa (Josh Turek) and Maine (Troy Jackson), per NBC News and the AP. Republicans were defending a 53-47 majority going in.

Governors. NBC News reports Democrats have clinched a majority of governorships for the first time in 16 years. Democrats flipped governorships in Georgia (Keisha Lance Bottoms) and Nevada (Aaron Ford), and won Ohio (Amy Acton), according to NBC News, the AP and CNBC. Republican Byron Donalds won in Florida.

Why voters say they voted this way. In NBC News's exit poll, the economy was the top issue at 39%. About 79% of voters said inflation is causing hardship for their families, and 62% said they disapprove of President Trump's job performance.

New York: Hochul Re-elected, Statewide Incumbents Win

The AP called the governor's race for Democratic Gov. Kathy Hochul at 9 p.m. Tuesday, and Republican Bruce Blakeman, the Nassau County Executive, conceded that night. Democrats Thomas DiNapoli (comptroller) and Letitia James (attorney general) were also re-elected, per Spectrum News citing AP vote counts and News 12.

Long Island's Four House Races

As of about 7:45 AM ET, per NBC News and the AP (percent of expected vote counted):

  • NY-1 (most of Suffolk's North Shore and the East End): not called. Republican Rep. Nick LaLota 51.1%, Democrat Christopher Gallant 48.9% (about 86% in). LaLota declared victory Tuesday night. News 12 reports Gallant has not conceded, saying "there are still votes to count."
  • NY-2 (Suffolk's South Shore, southeast Nassau and part of Massapequa and Massapequa Park): not called. Republican Rep. Andrew Garbarino 51.2%, Democrat Patrick Halpin 48.7% (about 78% in). Garbarino declared victory; Halpin has not conceded. News 12 reports Suffolk Democratic chair Rich Schaffer calling both Suffolk races "too close to call."
  • NY-3 (Nassau's North Shore, northeast Queens and part of the Town of Huntington): Democratic Rep. Tom Suozzi is leading and NBC News's New York tally counts the race as called. Suozzi 55.1%, Republican Michael LiPetri Jr. 44.7% (about 87% in). We haven't seen a concession from LiPetri.
  • NY-4 (southwest Nassau): Democratic Rep. Laura Gillen leads and NBC New York's latest summary still listed the race as uncalled. Gillen 56.2%, Republican Jeanine Driscoll 43.4% (about 85% in). News 12 reports it appears all four incumbents will return to Washington, but we haven't seen an AP call or concession in NY-4.

These are unofficial counts. The two Suffolk races in particular could still move as the remaining ballots are counted.

Down the Ballot on Long Island

  • Hempstead (includes Garden City): Democrat Joe Scianablo, a Garden City resident, declared victory over Republican Supervisor John Ferretti, leading by more than 10,000 votes in unofficial returns, per Long Island Press. Ferretti had not conceded. Nassau GOP chair Joe Ciaro said "it was not our night."
  • Oyster Bay (includes Syosset, Muttontown, the Brookvilles and Massapequa): Republican Supervisor Joseph Saladino was reelected to a sixth term over Democrat James Hoyle, per Long Island Press.
  • North Hempstead (includes Manhasset): Republican Supervisor Jennifer DeSena declared victory over Democrat Sean McCarthy, 51.17% to 48.77%, a margin of 2,001 votes in unofficial returns. McCarthy had not conceded. Not final.
  • State Senate: The AP has called District 5 (Steven Rhoads, R), District 6 (Siela Bynoe, D) and District 8 (Jarett Gandolfo, R), per News 12. In the open 7th District, which covers parts of Nassau's North Shore, Republican Jake Blumencranz led Democrat Rory Lancman 52.0% to 47.9% with about 83% counted as of 2:51 AM ET. We haven't seen a call. We also haven't confirmed a result in the 9th District.
  • State Assembly: News 12 lists AP calls for Assembly Districts 9 (Michael Durso, R), 10 (Steve Stern, D), 13 (Charles Lavine, D), 19 (Ed Ra, R), 20 (Steve Brown, R), 21 (Judy Griffin, D) and 22 (Michaelle Solages, D). In the open 15th District on the Gold Coast, Republican Paolo Pironi led Democrat Dean Tarulli 52.5% to 47.4% with about 78% counted as of 2:51 AM ET, not called. We haven't confirmed the open 16th District or the Nassau County Legislature.

What It Could Mean for Real Estate: The National Picture

None of this is a prediction. These are the things worth watching, based on what reporters and analysts are saying.

Mortgage rates. Freddie Mac's average 30-year fixed rate was 7.24% on October 29, down from 7.32% a week earlier and up from 6.17% a year ago. The next reading comes Thursday, November 5, at noon ET. Mortgage rates track bond yields, and on Wednesday morning CNBC reported the 10-year Treasury yield had slipped 3 basis points to 4.917% after Democrats' wins. CNBC said JPMorgan traders are focused on "reduced deficit spending," which could come with a budget fight and possibly a government shutdown. Before the election, Nuveen's Laura Cooper told the Wall Street Journal the midterms were likely to cause "short-term noise rather than a sustained repricing" in bond markets. One day's move in yields doesn't set a trend, and mortgage rates don't always follow Treasury yields point for point.

Housing policy. With a Democratic Congress and a Republican president, big housing changes would need both sides. Democrats don't appear to have veto-proof margins in either chamber. House Democratic leader Hakeem Jeffries told ABC News that Democrats' "Day One plan" is to focus on health care and "driving down the high price of groceries and gas and housing," and ABC reports House Democrats have said they'll quickly consider legislation to end Trump's global tariffs. Realtor.com reports that Congress will oversee the rollout of the bipartisan 21st Century Road to Housing Act, which aims to cut red tape and encourage building, and a new ban on institutional investors buying homes. Democrats have talked about tenant protections and housing-program funding, and Republicans have talked about easing housing-finance rules and building costs. A bipartisan proposal to double the capital gains tax exclusion on home sales, the More Homes on the Market Act, has more than 170 co-sponsors but didn't advance this year.

Tax policy and SALT. The SALT cap is $40,400 in 2026. It phases down toward $10,000 for taxpayers with incomes above $505,000, rises 1% a year through 2029, and reverts to $10,000 in 2030 under current law, per the Tax Foundation. That matters on Long Island, where property tax bills are high. In Long Island Press questionnaires, Democratic challengers Patrick Halpin (NY-2) and Christopher Gallant (NY-1) both called for permanent SALT relief. We haven't seen a specific SALT plan announced by the incoming congressional majority, so whether and when the cap changes is an open question.

What It Could Mean Locally

Albany. Gothamist reports that Gov. Hochul's housing agenda is "build, baby, build": reducing environmental reviews, streamlining permitting, adding state funding for affordable housing and changing local zoning rules. She proposed housing construction mandates for every town in 2023, withdrew them after pushback, and hasn't revived them. On Long Island, zoning decisions still sit largely with town and village boards, so the supervisor races matter. DeSena, for example, has opposed state efforts to override local zoning, per Long Island Press.

Taxes. Hochul pointed to her record of tax relief with the Legislature, including a property tax rebate, and said there hasn't been an income or corporate tax increase while she's been governor. Blakeman had proposed a large state income tax cut. Spectrum News noted that more progressive voices are expected to join the Legislature in January, which could renew pressure on state taxes. In the Town of Hempstead, Ferretti said his administration reduced property taxes by 18% in 2026 and proposed a 2027 budget that would freeze the reduction, and Scianablo has called for an independent audit of town spending and questioned the town's use of reserves, per Long Island Press. In Oyster Bay, Saladino froze taxes from 2018 to 2025 and raised them slightly in the 2026 budget, per the same report. If you own in these towns, watch your next budget cycles.

Prices and affordability. Gothamist, citing Federal Reserve data, reports that Nassau County median home prices rose from about $750,000 in October 2020 to more than $960,000 today.

Federal money for local projects. Both Gallant and Halpin said they'd push for federal funding for flood protection, drainage and water infrastructure, and Halpin said he'd work to restore FEMA and coastal resiliency funding. Whether any of that happens depends on Congress and the White House. It's worth keeping in mind if you're looking at homes near the water or in flood-prone areas.

What This Means for Buyers and Sellers

  • Buyers: Don't try to time the market around an election. Rates move on bond-market news, and the news can change quickly. Get pre-approved, know your monthly payment at today's rate and at a rate a bit higher or lower, and talk with your lender about options.
  • Sellers: Buyers are watching rates, taxes and the economy. Be ready to talk about property tax bills, utility costs and recent improvements, and price based on what homes near yours are actually selling for, not on headlines.
  • High-property-tax households: If SALT is part of your math, keep an eye on Washington over the next year, and keep your tax professional in the loop.
  • Everyone: Several Long Island races are still being counted. We'll update this post as they're called.

"Election results make big headlines, but when families call us, the question is usually a lot simpler: what does this mean for my move? Our advice doesn't change. Look at your own budget and your own street, stay flexible, and don't make a big decision off a headline. Call Mike or me and we'll talk it through."

— Ron Lanzillotta, The Pesce & Lanzillotta Group

Thinking About Buying or Selling on Long Island?

Whether you're listing in Massapequa, shopping in Syosset or Dix Hills, or comparing Huntington, Manhasset and Garden City, Mike and Ron can walk you through recent sales, what buyers are asking about and how to plan around the news. Reach Mike Pesce or Ron Lanzillotta at 516.888.9711 or info@pl-team.com.

Mike Pesce & Ron Lanzillotta, The Pesce & Lanzillotta Group | Berkshire Hathaway HomeServices Laffey International Realty | 8223 Jericho Turnpike, Woodbury | 516.888.9711 | info@pl-team.com

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Sources

  1. NBC News, 2026 Senate results, House results and New York House results, updated 7:44 AM ET Nov. 4, 2026 (AP data; NBC News Decision Desk projections). Source 1 · Source 2 · Source 3
  2. Associated Press, "Democrats win the US House and Senate as voters deliver a strong rebuke to Trump and Republicans," updated Nov. 4, 2026; AP live updates. Source 1 · Source 2
  3. ABC News, "Democrats take the House. Here's what they plan to investigate and their legislative agenda," Nov. 4, 2026. Source
  4. NBC News Exit Poll and live blog, Nov. 3, 2026. Source 1 · Source 2
  5. News 12 Long Island, "Long Island's Republican Congressmen hold narrow leads with results closer than expected," Nov. 4, 2026, and the Vote 2026 Election Day blog (AP-called state Senate and Assembly races), Nov. 4, 2026. Source 1 · Source 2
  6. NBC New York, "What New York and New Jersey races have yet to be called?" Nov. 4, 2026. Source
  7. WSHU, 2026 election live updates (CT and NY), Nov. 3-4, 2026. Source
  8. Spectrum News NY1, "James, DiNapoli win reelection," Nov. 4, 2026. Source
  9. Long Island Press, "Oyster Bay Town Supervisor Saladino reelected to sixth term," "DeSena proclaims win in North Hempstead supervisor race," "Scianablo declares victory over Hempstead Town Supervisor Ferretti," Nov. 4, 2026. Source 1 · Source 2 · Source 3
  10. Exa election library, NY State Senate District 7 and Assembly District 15 results (updated 2:51 AM ET Nov. 4, 2026; unofficial). Source 1 · Source 2
  11. Long Island Press, "Who is on Long Island ballots for 2026 Election Day" (Nov. 2), "High stakes for voters deciding local races" and "2026 Long Island voter's guide: Congressional races" (Nov. 3, 2026). Source 1 · Source 2 · Source 3
  12. CNBC, "Treasury yields fall after Democrats win House and Senate majorities," Nov. 4, 2026. Source
  13. Freddie Mac, "Mortgage Rates Decline Further to 7.24%," Oct. 29, 2026. Source
  14. MortgageResearch.com, "Will the Midterms Move Mortgage Rates or the Housing Market?" Nov. 3, 2026 (quoting The Wall Street Journal). Source
  15. Realtor.com, "What Each Party Promises on Housing Affordability as Congress Hangs in the Balance," Nov. 2, 2026. Source
  16. Tax Foundation, "Eliminate the State and Local Tax Deduction Cap." Source
  17. Gothamist, "NY's housing crisis is on the ballot," Oct. 29, 2026. Source
  18. Spectrum News NY1, "Hochul, Blakeman make tax relief pitches as election nears," Sept. 29, 2026. Source