We want to take a moment to talk about how the presidential election will affect our housing market. We also want to invite you to a happy hour at our office.
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The presidential election seems to be taking up a lot of everyone’s time right now. Instead of focusing on policy or promises, we want to talk about what effect, if any, the election will have on the housing market.
One poll that I found discovered that 1% of respondents said they would leave the country if their candidate didn’t win. Another 9% said they would consider it. With all the uncertainty and doubt of people leaving the country, what kind of effect will that have on the housing market?
Studies have shown that during election years, appreciation and depreciation values varied by about .2%. Right now, we are seeing an average appreciation of 6.4% a year, so .02% is not much of a deviation.
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Election years affect appreciation only slightly.
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If you are thinking about buying, you may have an opportunity to save a little bit during this election cycle. If you have been thinking about selling, conditions are perfect.
If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you.
