Published July 2, 2024

Election Year and Real Estate

Written by John Ramsey

In presidential election years people often take the upcoming election as a reason to delay buying or selling. Is it a good idea to wait? As usual, that depends. It depends on what the other reasons are for buying, selling, or investing. We often find that the actual impact of elections on home sales and home values to be significant but not huge. What makes the most sense for any individual person is usually determined by a combination of multiple factors.

What we can say by considering the historical data is that the number of home sales tend to go up in the year following an election. Check out this chart:

What about mortgage rates? What does an upcoming election mean for rates? Statistically, rates tend to drop a bit leading up to a presidential election (see chart below):

But again, what does this mean for you? Often, there are other factors far more weighty in an individual decision than the trends leading up to the ballot box.

Thinking about buying, selling, or investing? We’d love to think with you and help you sort out your next best steps. The Ramsey Team exists to help people build wealth through real estate, so call on us and we’ll help you with your planning!

Faithfully yours,

John for the Ramsey Team

John Ramsey

360.777.5323

johnramsey@kw.com