Elections and Real Estate

History tells us that presidential elections can cause all markets to stall and take and a breather. This uncertainty can cause buyers to hesitate when making a decision to purchase a home. When a new president be elected, a “wait and see” attitude could develop. Consumers want to see what policy changes may be put into place that could effect their decisions. Policy changes to tax laws, deductions, credits, and such will often have buyers waiting on the sidelines until those decisions are finalized. The other aspect of this uncertainty is the overall condition of our national and local economy, as well as the pandemic and wether we will see a safe vaccine sometime in 2021. All in all, keep in mind that all markets, including Real Estate, don’t react well to uncertainty, and right now there is a lot we all are not feeling certain about.
Good luck in the days ahead.