Every four years I get this question.
I am probably going to disappoint a lot of readers, but it just doesn’t work like that in real estate. It sure can affect the stock market in the short term, but the real estate market is a lot different. That’s because your house is your home and the stock market is just about making money. People always want to move and will do so whenever they feel comfortable that they can.
The past few elections, the popular vote has been about 50-50. That means half of the voters are happy and the other half are not. With such an equal split, it isn’t going to change much…..the only possible change could be which 50% of the voters feel more confident about buying a house. Also, the roughly 50% of Americans who don’t vote have already shown us that they will be unfazed by which guy gets in office.
About the only direct, immediate change these elections have on real estate is leading up to election day. Historically, the month or so beforehand has been pretty slow as everybody waits to see who wins. Then a few days after the election, things get back to normal. I’ve got a new listing that I could have put on the market today but I am going to wait until later this week. I am sure it would sell today since the market is strong and the house is at a price point where there aren’t any listings. I want to wait for multiple offers so I can get the best terms for my seller. I guarantee you that whatever buyer gets this house, they are going to be happy regardless of which guy wins today.