With two weeks to go until the Presidential Election, you are probably very tired of hearing about it. However, I think this is an angle that you should take a moment to think about when casting your vote. How does the election impact the housing and real estate market?
According to the below video, the result of this election is very unlikely to alter the market much in either direction. Vice President Kamala Harris, the Democratic candidate, has proposed federal grants to increase the amount of housing available, as well as to credit first-time homebuyers and make buying easier. Donald Trump, the Republican candidate, has said he would continue Fed Chair Jerome Powell’s term.
Analyses of those respective platforms say that little movement would be expected, as is historically normal in presidential election years. One thing that does tend to happen is that home sales slow during the election month (November), but quickly bounce back and rise the following year, with prices climbing steadily. Mortgage rates typically come down slightly.
So, why should that matter to you as a voter? Well, if you have any plans to buy or sell a home in the next year or so, it can just add a layer of uncertainty to the whole process, however there is always something going on. Luckily, that’s where I come in! Let me use my expertise to help you navigate the market and find you your dream home or get the best return on selling your home.