How will the upcoming presidential election impact real estate
How is real estate affected by presidential elections?
Research company BTIG has been studying how real estate is impacted by presidential elections since 1963. They determined that during a typical year, from October through November, sales decrease by about 10%. Then they slow down further into winter. They also concluded that 15% fewer sales happen at this time during election years.
However, those sales aren’t lost. Their studies show that the year following an election, home sales increase, which indicates that those who decided not to enter the market simply deferred their plans. Don’t let the election deter you. I don’t have a crystal ball, but economists are saying interest rates should stay low throughout 2020, which will help buyers in the coming months.
Of course, the unknown factor in all of this is the pandemic. That throws a ton of ambiguity into the mix, both before and after the election. In this unusual year, we simply don’t know how things will progress.
If you have any questions about buying, selling, or investing, give me a call or send an email. I look forward to hearing from you.