Buy/Sell During the Elections?
Why do buyers and sellers stall with proceeding with their gut feeling during the presidential election year? Most realtors do find it harder to move properties during an election year, people have fears of the outcomes and put buy/sell on pause.
According to real estate studies done in California dating back to 1980, housing prices do rise 1.5% less than other years. Not much of a dent, but it might add up.
“I don’t think it’s a wise idea to try to time any markets, especially housing,” says real estate expert Kurt Westfield at WC Equity Group. “Housing markets are very localized, subject to microeconomic shifts. The election takes place on a much larger macroeconomic scale.”
Just think, if everyone is faint at moving their home during this time, put yours up on the market! Less homes to choose from means multiple offers for your home!!
With interest rates remaining low at the moment, this is also a great time for purchasing power. This is the year for buying a home, good luck!