Insights from the Melville Group, Your Trusted Folsom Real Estate Advisors
With election season upon us, it’s natural to wonder how political events might influence the housing market, especially if you’re planning to buy or sell a home. While the impact of elections and the housing market is typically subtle, understanding the trends can give you an edge in making informed decisions. Here’s what to expect during an election year:
The November Pause
It’s not unusual for home sales to dip slightly in November during election years. This temporary slowdown often happens as buyers and sellers hold off on making big decisions amid political uncertainty. The good news? This pause is usually short-lived. Once the election results are in and the initial uncertainty clears, market activity tends to rebound by December.
Post-Election Price Boost
After the dust settles, there’s often a noticeable uptick in home prices the following year. This trend suggests that market confidence is restored post-election, making it an advantageous time for homeowners looking to sell. If you’re considering putting your home on the market, this could be the perfect moment to capitalize on rising values.
Mortgage Rates May Ease
One of the more favorable trends for buyers is that mortgage rates often decline from July through November during election years. This drop can make home buying more affordable, presenting a prime opportunity to lock in a lower interest rate and potentially save thousands over the life of your mortgage.
The Big Picture
While elections may introduce minor fluctuations, the overall impact of elections on the housing market is typically minimal and short-term. The market remains robust, offering plenty of opportunities for buyers and sellers alike, especially in thriving areas like Folsom.
Elections and the Housing Market: The Takeaway
Whether you’re looking to take advantage of current market conditions or simply need expert advice, the Melville Group is here to help. Reach out to us today and let us guide you through your next real estate move with confidence.
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