Do Elections Affect the Housing Market?

With the Presidential election just months away, you might be thinking it would be better to wait to buy or sell until after November. I’ve heard some experts say an election year is good for the housing market and others say it negatively impacts it. The reality is the housing market is influenced by many factors including supply and demand, housing starts, unemployment, and interest rates. It is not dependent on who is running or who wins. “Historically, the housing market doesn’t tend to look very different in presidential election years compared to other years,” says Lisa Sturtevant, chief economist at Bright MLS. Home prices tend to rise year over year and the latest data from NAR shows after seven of the last eight Presidential elections, home prices increased the following year. An election year doesn’t alter the price trend that is already happening in the market. Presidential candidates often stress their economic plans, but economists generally agree that presidents have little to no influence over a market as broad as the U.S. housing sector. Bottom line, if you’re considering buying or selling, there’s essentially no reason to let an election year change your plans.  

Contact me if you want help navigating the market.

        

Donna Forest

M: 603-731-5151
donna@donnaforest.com
Follow her on Facebook

Search For a Home

or
Cancel