There is a small but appreciable effect that has been seen historically in election years when it comes to the housing market.
First, home sales usually slow down a bit in November during election years. But data shows sales activity picks back up in December and rises the next year.
Second, home prices tend to rise the year after an election.
And third, mortgage rates often go down from July to November in election years. That means homebuying typically gets a little more affordable in the months just before an election.
Bottom line? As always, the best time to buy is when the timing is right for you, and if you’re thinking about making a purchase soon, it could make sense to start your search before November while home prices and rates are a little lower than they may be towards the end of the year. Want to know more? Get in touch! 
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