How Presidential Elections Impact the Housing Market
Tupper Briggs
Tupper began his real estate career in 1973 and has earned every accolade from the National Association of Realtors available over the years...
Tupper began his real estate career in 1973 and has earned every accolade from the National Association of Realtors available over the years...
Historically, presidential elections only have a small and temporary impact on the housing market.
Going back to 1992, there’s been a slight slowdown in sales activity in November during presidential elections, but it bounces back up quickly and climbs the next year. Presumably, this may be due to the distraction of last-minute campaigning and people’s reactions to the election results.
Mortgage rates decreased slightly from July to November leading up to 8 of the last 11 presidential elections, and home prices went up after 7 of the last 8 elections–the lone exception was in 2008, when Barack Obama was elected and he inherited America’s Great Recession.
But overall, the effect of presidential elections is small and temporary compared to other years.
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