fbpx
Jacob Finney
Search Listings
Blog

What Happens In An Election Year…

Sep 3rd, 2020 | jfinney@talktotucker.com

So how will the Presidential Election affect the housing market?

Normally without an election, there’s about an 9.8% decrease in the number of homes sold in November vs. October. This is due to the normal seasonality that we see in the Fall and Winter months.

In an election year, there is usually a 15% decrease in the number of homes sold in November vs. October…this is largely due to buyers feeling the need to be more cautious due to the election and the effects the election may have on the economy.

The past has also shown us the first year after the election is usually the best of the 4 years in terms of the movement of real estate. So, those cautious buyers aren’t out of the mix, they  are just in a holding pattern.

My prediction…with the continued mortgage rates at (or very near) all-time lows, the economy continuing to recover and the unemployment rate decreasing, the real estate world should remain strong leading up to and after the election, no matter who is elected. 

Interested in Learning More?
Posts you might like

Last week Fannie Mae released survey data regarding market sentiment: Survey showed 77% of the respondents feel that it is a “good time to sell” But the survey also confirmed what we have been feeling – an increasing number of buyers feel it is a “bad time to buy” a home at 64%…this is up from 56% … more »

The benefits of being a homeowner vs. renting are many: Building equity (ownership) in a desirable asset The ability to do what you want in your home (you can paint a room purple if you’d like! Please note that if you want to sell soon, I’m going to request it go back to a neutral color! LOL) Tax benefits – … more »