Why Waiting to Buy or Sell Until After the Election Is a Mistake

By Andrew Duncan

Andrew Duncan is the Founder, CEO and Co-Owner of Tampa’s Best Real Estate Agent Team, The Duncan Duo, the Host of The Duncan Duo Real Estate Show Sundays at 10am on 970AM WFLA. As the team’s Founder, CEO & Co-Owner, Andrew’s focus is on the growth of the company, marketing and promotion initiatives as well as motivating and coaching the team’s agents and leadership.

Are you considering buying or selling your home until after the presidential election? I get it—there’s a lot of heated debate and anxiety around this election, but here’s the reality: Presidents have minimal short-term impact on the real estate market. If you’re holding off, thinking there’ll be some significant change in the market right after the election, you might want to reconsider.

I’ve been through five presidential elections in real estate, and every time, there’s a bit of a slowdown before the election. People get nervous, worried that the candidate they believe will best support the economy might not get elected, so they wait and see. But here’s what you need to know:

Lower rates could mean higher prices. We’re currently in an environment where interest rates are expected to drop over the next six months. The Federal Reserve, the Commercial Mortgage Bankers Association, and nearly every trade group agree. And historically, every time interest rates go down, home prices go up. So, if you’re waiting to buy or sell, hoping for a better rate, you might pay more for the property. Most sellers also buy after they sell. If you’re waiting for interest rates to hit an inevitable low, remember: Waiting could mean higher prices.

Real estate changes take time. In all my years in real estate, after any presidential election, any economic policies a new president wants to push through take time. They need approval from Congress and the Senate, and it often takes a long time before these changes impact the real estate market.

Why the housing market moves at a snail’s pace. The stock market is much more volatile and emotional compared to real estate. We could see some big swings in stocks, but real estate is a slow-moving market. Prices rise and fall at a much slower pace. The idea that waiting a few months after the election will lead to drastic changes in the real estate market is a myth. This myth has been busted through every single presidential election I’ve experienced in real estate, and I believe the same will happen this time.

If you’re thinking about buying or selling, don’t let the election hold you back. Focus on your goals and make informed decisions based on the current market, not election outcomes. Call me at (813) 359-8990 to learn more.