How Will The 2024 Presidential Election Affect The Housing Market? | Richmond, Virginia Real Estate

In this video, we delve into how the upcoming presidential election might influence the housing market. We'll explore historical trends and discuss why home sales typically see a decline in the months leading up to an election, only to bounce back afterwards. Discover why these fluctuations occur and how they affect both home prices and mortgage rates.

Curious about how past elections have shaped the real estate landscape? We'll break down key statistics, including how home prices have responded after seven of the last eight elections and the impact on new construction prices.

Don't miss out on these valuable insights! Join the conversation in the comments, share your thoughts, or drop me a DM. Thanks for tuning in, and we'll see you next week!

📊 Key Takeaways:

Home sales often decline in October and November of election years.
Most delayed sales rebound in December or the following year.
Home prices generally rise post-election, except during significant economic downturns.
Mortgage rates tend to decrease in the months leading up to the election.

#housingmarketupdate #electionimpact #realestatetrends #homeprices #mortgagerates #presidentialelection2024 #marketanalysis

0:39 - Decline in Home Sales During Election Months
1:16 - Post-Election Recovery in Home Sales
1:28 - Trends in Home Prices Post-Election
1:50 - Changes in Mortgage Rates Leading Up to Elections
2:00 - Key Insights from Historical Data
2:11 - Closing Thoughts

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