How Elections Affect the Real Estate Market - Myth vs. Reality
(Reprinted with permission from @properties.)
With the 2024 presidential election just days away, you might be wondering how elections impact the real estate market and whether it's a good time to buy or sell. The good news? It's business as usual for most of the real estate world before, during, and after election season.
Despite the popular belief that presidents and parties have a big impact on the market one way or the other, data from the past three decades tells a different story, in fact*, home prices increased following all but one election - 2008, the start of the recession.**
Elections are also apparently good times to borrow. That's because mortgage rates have declined leading up to seven of the last nine election cycles, including the current one.***
Bottom line, it's anyone's guess who will prevail at the ballot box next week, but when it's all said and done, homebuyers and sellers can usually count themselves among the winners.
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*HUD
**NAR
***Freddie Mac
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