Some Highlights
- Are you wondering if the upcoming election will have an impact on the housing market? Here’s what history tells us you need to know if you’re considering a move.
- Data shows home sales slow in November but quickly bounce back and rise the following year. Prices usually keep climbing. And mortgage rates typically come down slightly.
- Presidential elections have only a small and temporary impact on the housing market. If you have questions, connect with a real estate agent.
And if we look at those three main sources of inventory, you’ll see it’s clear this isn’t like 2008.
Homeowners Deciding To Sell Their Houses
Although the supply of existing (previously owned) homes is up compared to this time last year, it’s still low overall. And while this varies by local market, nationally, the current months’ supply is well below the norm, and even further below what we saw during the crash. The graph below shows this more clearly.
If you look at the latest data (shown in green), compared to 2008 (shown in red), we only have about a third of that available inventory today. t. Connect with a local real estate agent to see what’s out there.
