While it's inevitable that, once the dust has settled, the election result, will ultimately have a positive, neutral or negative effect on the homes market, right now there appears to be no discernible effect at all, with barely over a month left before the big day on November 8th.
The market is still as buoyant as we could hope for.
This actually falls in line with previous elections, where direct effects are not felt in the period leading up to the vote and for some time thereafter.
Of course, with a new presidential administration a certainty this time, there are bound to be policy changes that will impact in some ways, either good or bad, on real estate, but right now there doesn't seem to be any discernible effect on the incredible buyer sentiment we have been seeing for a long time now.
With mortgage rates still hovering around multi-year lows, there is of course every motivation for buyers to seize the fantastic current opportunities. Indeed, since the election is apparently having so little effect on the market, there's actually an additional incentive to get deals done before anything changes and while things remain much as they have done for a long while now.
In terms of what changes we might expect to see post election, this seems rather unclear, as the housing market has not been one of the central hot button topics during either campaign. Of course there are contrasting possibilities here, depending on who wins, so it's probably best not to speculate on that until the winner has been declared and new policies begin to phase in.
Our new president will, of course, be inheriting a far heathier looking real estate market than after the previous two elections, so that is a great base from which to start. In other words, real estate is not a patient in search of a cure. The challenge will be how to build on the solid momentum of recent years that have finally consigned the terrible years of recession to the history books.
With so many great reasons to sell right now, why not call us today for an informal discussion of how best to make the most of the current situation.