If you’ve been considering selling your home, timing is everything—especially during an election year. While some sellers may shy away from listing their property during this period due to uncertainty, the truth is that selling your home around the presidential election can be a highly strategic move. Here’s why:
1. Motivated Buyers in a Slower Market
During the fall, particularly between mid-October and Thanksgiving, the pool of buyers tends to consist of more motivated individuals. These are people who are committed to buying before the end of the year, often to settle in before the holiday season or to take advantage of current interest rates. Moreover, sellers who choose to stay on the market during this period are typically serious about selling, which means that any buyer actively looking around the election time is also likely to be serious about closing a deal quickly.
2. Less Competition from Other Sellers
Election years bring uncertainty, and many homeowners hesitate to list their properties due to concerns about market fluctuations or policy changes. This hesitation from other sellers can work in your favor. With fewer homes on the market, your property is more likely to stand out. Less competition means your home could sell faster and at a more favorable price, as buyers have fewer choices and may be more willing to make competitive offers.
3. Buyers Seeking Stability Before Potential Policy Changes
During an election year, many buyers are eager to finalize purchases before the uncertainty of a new administration takes hold. They may worry about potential shifts in the housing market, tax policies, or even interest rates that could be affected by new leadership. As a result, buyers tend to be more urgent in their decisions leading up to an election, seeking to lock in stability for themselves before any major changes occur.
4. Interest Rate Stability Leading Up to Elections
Historically, interest rates tend to stabilize before an election as financial institutions and the Federal Reserve often avoid making any major changes that could impact the economy before such a significant political event. Buyers who are sensitive to interest rate changes may feel an extra push to act before the election results are in. This can be a huge advantage for sellers, as buyers may be more motivated to lock in a favorable rate while it remains stable.
5. Post-Election Economic Uncertainty
While buyers may feel a sense of urgency before the election, many are also aware that the real estate market can experience shifts afterward depending on the outcome. Historically, the housing market reacts to election results, with fluctuations in buyer confidence, stock markets, and interest rates all playing a role. Selling before the election can help you avoid any post-election uncertainty that may arise if the market slows or if new policies negatively impact home values.
6. Favorable Timing for Year-End Transactions
In addition to election-related factors, the fall and early winter period leading into the new year is often a time when both buyers and sellers want to close deals. Buyers may be looking to settle in before the holidays, while sellers may want to complete transactions before the end of the tax year. Selling during this period allows you to take advantage of this natural market rhythm and attract buyers who are ready to move quickly.
Selling your home around a presidential election might seem counterintuitive, but the factors outlined above demonstrate why it can actually be a great time to list your property. Serious buyers, less competition, and interest rate stability all combine to create an environment where your home can sell quickly and for a favorable price!
