How Does The Election Affect The Housing Market?
A lot of people right now are wondering how the election is going to impact the real estate market. And the reality is it actually impacts very little. Now, November is already a month where the market already slows down because it’s getting into the holiday season.
But during election years, it slows down a little bit more just because we have people in their heads wondering if they should buy or sell a home right now because they want to wait to see who’s going to be in office after the election.
Other than that, it actually impacts the market also due to the interest rates typically going down further. Now, right now, they are a little bit higher. So that’s one thing to keep in mind. But the expectation is usually the interest rates start to get lower, which obviously makes it more of a seller’s market.
And so because people can afford more home to buy, and therefore there’s more competition. But if you are someone who really wants to buy or sell a home, please do not wait to wait for the election because you may miss out on a great opportunity.
So if you have any questions, please contact us. Share with anyone that you’re thinking to be helpful to and as always, Close with Patrice.
This has been “How Does The Election Affect The Housing Market?” by Patrice Henderson of Designed Living Real Estate. Be sure to subscribe to her YouTube channels for all your real estate tips, home tours and advice.
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