How Do Presidential Elections Impact the Housing Market?
“Historically, the housing market doesn’t tend to look very different in presidential election years compared to other years.”
Are you wondering if the upcoming election will impact the housing market? Historically, elections do influence real estate trends, and understanding these patterns can be crucial if you're planning a move. Data reveals that home sales often slow down in November but rebound swiftly, with a rise in sales the following year. Additionally, prices typically continue to climb, and mortgage rates generally experience a slight decrease. Here’s a closer look at what you can expect.
Home Sales Went Up After Nine of the Last Eleven Presidential Elections
In election years, there’s a slight slowdown of sales in November, but they tend to bounce back fast and climb the next year.
Mortgage Rates Decreased Leading Up to Eight of the Last 11 Presidential Elections
Looking at the last eleven presidential elections, mortgage rates have historically come down slightly from July to November.
Home Prices Went Up After Seven of the Last Eight Presidential Elections
Prices generally follow the trend of what’s already happening in the market. Home prices usually rise, even in election years.
Presidential elections only have a small and temporary impact on the housing market. If you have questions, let’s connect!
Sources: Bankrate, HUD, NAR, Freddie Mac
