We are just barely into 2020 and already the campaign ads are running. Eight months to go before the next Presidential election and things on the homefront are still relatively the same, in fact, they’re growing. However, presidential election years do have an impact on the housing market. Many home buyers and sellers get a few jitters with the thoughts of someone new taking office. Understandably so because many times a new president can have an impact on the stock market and taxes.
In a recent article from Forbes, they write “research and industry experts agree that the closer the election gets, the more likely its effects on housing, regardless of who the candidates are. In general, presidential races breed uncertainty in the housing market, which alters attitudes among home shoppers, sellers and investors and, thus, sways sale volumes and values.”
Research (performed by Meyers Reseach) of the past 13 presidental election years shows that new home sales record a drop in median sale activity of 15% from October to November, when the nation chooses its president.