How Presidential Elections Affect the Housing Market: What You Need to Know

With a new election on the horizon, many people wonder how this political event might influence the housing market. At Mosaic Realty Group, we know that buying or selling a home is a big decision, and understanding market trends can help you make informed choices. Here’s a look at some key trends and insights.

1. Do Sales Slow Down in an Election Year?

Typically, there’s a slight dip in home sales from October to November in election years. This is mainly due to buyers holding off on major financial decisions until the political landscape is clear. However, the slowdown is short-lived, and the market usually picks up quickly in the following months.

2. What About Mortgage Rates?

Interestingly, mortgage rates tend to decline in the months leading up to an election. This year has followed the trend, with average rates coming down from their recent highs. Lower rates could provide an opportunity for buyers looking to secure a mortgage.

3. Do Home Prices Change?

Historically, home prices increase in the year following an election. This trend is expected to continue, with projections indicating a 2.5% increase in national home prices next year.

The Takeaway

While it’s natural to have questions about how the election may impact your real estate plans, historical data suggests that the effects are generally temporary and modest. Our team at Mosaic is here to provide you with expert insights and guidance every step of the way.

Have more questions? Reach out to us today to learn more about the market and explore how we can help you achieve your real estate goals.