How are the Elections going to affect the housing market?

Are you voting for home values to go up or down?

Did I trick you into thinking I was going to talk politics? Definitely not!

But I do think it's a good idea to talk about what the impact the Election may have on the housing market.

Who will win, buyers, sellers, both, neither?

While we still have until November for the actual Election, we are already hearing that some people are waiting on the Election to make a move. This is something that we haven't heard at all until the beginning of March.

Not surprising because that's about the time everyone started their advertising. There are signs popping up all over my city, and they'll be there all year.

But what impact will this have on the housing market?

My personal opinion: I think it will be a distraction for the people who are sitting on the fence, unsure if it's the right time for them to move.

It will also likely be yet another factor that keeps inventory low. Which is a vote for prices to increase. The longer inventory stays at these low levels, the more likely we see low rates and low inventory again. There is a pretty good chance that we see interest rates start to drop leading up to the Election.

Low Inventory + Dropping Rates = Price Increases

For reference, the last time inventory was as low as it is now, interest rates were 4%. On top of that, the median price in OC was 11% lower than it is right now.

With that said, there is an opportunity here. With interest rates coming down, there are a lot of sellers that felt the 'Golden Handcuffs' that will list their homes for sale. I am hoping that we see inventory improve a bit to get us out of this hyper-competitive market.

Here are two resources you might want to consider...

Home Buyers (also for Buying & Selling)

Become a Better Buyer - Click Here for the Recording

WHY: This was a live webinar that breaks down the housing market plus three major things...

  1. What our clients are doing to take advantage of the market

  2. How we keep you protected through the entire process

  3. How we negotiate the best deal possible

Homeowners - Your home value has changed (more than you think)

Track your Home's Value - TrackYourValue.com - Click Here

Once you fill out the form, we will provide you with an estimated home value range. After that, we will reach out to get more info on the home from you. With that, we'll be able to put together a free Market Analysis (appraisal) on your property value.

Either way, we provide a ton of resources for you so that you can make the best decision for your unique situation.

 

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