Will The Election Affect the Real Estate Market?

The presidential election means uncertainty, which makes many of us nervous about the future. Among numerous other factors, many people wonder how the upcoming election will impact the real estate market. While none of us have a crystal ball to predict the future, I believe the local real estate market will remain strong regardless of the election results for the following reasons:

1.  The election is not going to change the supply of housing, especially affordable housing, in our area and even across the country.  There will still be a shortage of housing inventory, and that will likely continue for quite some time.

2.  The election is very likely not going to raise interest rates.  During times of uncertainty and change, the federal reserve would be unlikely to raise interest rates.  Low rates have fueled buyer demand and contributed to the strong local market.

3.  The election is not likely to impact demand for housing.  For many buyers, due to low interest rates and a strong rental market, it is in some cases less expensive to own a home than to rent one!  This supports strong demand for housing.

There is only one who knows the future, and He has only published one document (and it does not include housing data for 2020)!  We cannot know the future, but based on the factors above I believe the market will remain strong regardless of who is voted in in November.  For more information, give us a call!  We love talking real estate with our clients!