Real estate during the election year...
September 08, 2020
As the 2020 election is rearing closer, presidential candidates are presenting their policies on housing. As of January 2020, the nationwide inventory has declined whereas the average listing price reached nearly $300,000. From the past 13 elections, a pattern has been developed displaying a drop in sales around the month of July as well as a significantly weaker market in the month of September. Following the presidential race, the house sales that were lost in November are made up for in December.
There is still uncertainty with the election for buyers, sellers, and investors, although experts have tracked patterns for several years on the industry linking the election year with it's impacts on housing as different candidates have different policies that impact the housing market. Some researchers believe that due to the fear of election uncertainty, it causes people to make more rash decisions, as they don’t know which policies will be altered and how the economy, taxes, and the stock market will be impacted.