Historically, stability and market activity increase after an election.
What should we expect from the market this upcoming presidential election? This year’s election is my fifth presidential election since I’ve been a licensed real estate agent in 2003. I’ve observed that there’s a lot of uncertainty around elections.
In general, home prices and annual sales go up after an election. Based on our data, existing home prices have gone up in eight of the last nine elections except for 2008. The actual home values also went up nine out of eleven elections, and the only times they didn’t were before 1990.
Sometimes, when dealing with the market, we are like turtles. We stick our necks out and carefully assess the situation for uncertainty before making a move. Election season brings uncertainty, which causes us to become hesitant and hide back into our shells, waiting for a more stable situation.
After an election, no matter the outcome, there’s a sense of relief and stability, boosting market activity. This is why home prices and home sales rise post-election season. We’ve seen this pattern in past elections, and we have no reason to think this year will be an outlier.
So, if you’d like to talk about what this means for your home—either your current home or the home that you want to buy—now is the time to get ahead of it. Let’s come up with a game plan that will work for you so that we can hit 2025 up and running strongly.
If you have any questions about the election, your home, or anything else, give me a shout at (503) 522-0090 or sarita@asksarita.com. You can also visit our website, AskSarita.com. I’m here to help.
