Elections and the Housing Market: Insights from The JPRE Group
Election season always stirs excitement, but if you’re considering buying or selling a home, you might wonder how the upcoming elections could shake up the housing market. Here in the East Bay, we've seen that while elections grab the headlines, they tend to have a minor influence on real estate trends. Here’s what we've observed in the San Francisco Bay Area:
A Brief November Pause
In election years, it’s not unusual for the housing market to experience a slight dip in activity around November. Some buyers and sellers prefer a "wait and see" approach, holding off on decisions until the political dust settles. But don't worry—this lull doesn’t last long. Once the election results are in and the future feels more certain, market activity typically rebounds by December.
Post-Election Market Bounce
It’s interesting to note that home prices often rise in the year following an election. This suggests that confidence returns once the political landscape is clearer, and home values reflect that stability. If you’re considering selling, the post-election period might be the sweet spot to list your property.
Mortgage Rates: What to Watch
Another trend we’ve noticed is the movement of mortgage rates during election years. Historically, rates tend to drop between July and November, making it a great time to lock in a lower rate. If you’ve been eyeing a new home, this could be an ideal time to make your move.
What This Means for the East Bay
While elections can create a temporary ripple, the overall strength of the East Bay housing market remains solid. These trends are just a small part of a bigger picture. Whether you’re buying or selling, opportunities abound.
If you want to understand how current market trends could benefit you, contact The JPRE Group. We’re here to guide you through the market with expertise and confidence, no matter what the season brings.
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