How will the upcoming election impact real estate?
We’re getting closer to election time and a few people have asked us how that will impact the real estate market. Well, I’ve been reading a few articles and this is what historically has happened.
As the election gets closer – typically after summer and into early fall, people get more nervous about making any big changes or decisions with the looming election. This can include a decision to buy or sell a home. However, not to worry, this is a super temporary dip and bounces back right after the election. If you are on the buying side, it may be helpful to you as there may be less buyers looking at that time.
As for home prices, history shows that they rise with an election. The home prices in the Fox Valley, WI area have been rising at high rates in recent years, so expect the rising trend to continue through the election and end of this year.
What about mortgage rates? Well, most of the indicators show that rates will continue to slowly drop for the balance of the year. We’re not expecting a significant change, but the downward trend is nice to see after such a rise last year.
Politics and the economy are closely connected, so we will continue to keep an eye on anything that might impact real estate. However, history shows that real estate continues to be a great investment and that any impacts from the election will be small and short-lived.
Freedom Team Real Estate Agents (Kyle Meyer, Lauren Nobbe, Valerie Bohn) serving Appleton, Neenah, Oshkosh, Fond du lac and surrounding areas in Wisconsin. Check us out at www.joinfreedomteam.com or by contacting Kyle or Lauren at 920-410-7230 or Valerie at 920-232-8683.
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