How to Presidential Elections Impact the Housing Market?
So, you’re losing sleep over the upcoming elections’ effect on the housing market? There is no need to worry, we’re here to bust the myth that Presidential elections have a negative impact on the housing market, here are a few reasons why.
What History has Shown about the Impact of Presidential Elections on Home Prices
Studies suggest that after 7 of the last 8 elections, home prices escalated. The only year that they fell was due to the housing market crash in 2009. We can look at these statistics in a positive way! Now on to another huge contributing factor, mortgage rates, mortgage rates also saw decreases during election years. According to Freddie Mac, Mortgage rates decreased from July-November leading up to the last 11 elections.
It’s completely normal to feel a bit uneasy about the housing market in an election year, but rest assured, the market continues to be strong and resilient!
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