Do Elections Impact The Housing Market

**Do Elections Impact the Housing Market?** With the 2024 Presidential election coming up, you might wonder how elections affect the housing market, especially if you're thinking about buying or selling a home. **Home Sales:** Historically, Presidential elections cause a slight, temporary dip in home sales during November, as people become hesitant to make big decisions. However, sales typically bounce back in December and continue rising the next year. Data shows that after nine of the last eleven elections, home sales increased. **Home Prices:** Elections don't typically cause home prices to drop. Prices tend to follow the existing market trend and usually rise year-over-year. In fact, after seven of the last eight elections, home prices went up the following year, except during the housing crash, which was an unusual situation. **Mortgage Rates:** Mortgage rates often decrease from July to November in election years. Most predictions suggest a slight ease in mortgage rates for the rest of this year, which could be beneficial if you're planning to buy. **What This Means for You:** Though elections have some impact, it's generally small and temporary. As history shows, the housing market stays strong and resilient during election years. **Bottom Line:** If you're feeling uncertain, remember that the housing market has weathered many elections before. For guidance, whether it's an election year or not, let's connect! --- How does that sound?

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