The days after an election can be a rollercoaster of emotions. Whether you’re riding high because your candidate won or feeling a bit uneasy about potential changes, it’s natural to wonder what’s next—especially when it comes to the economy and the housing market.
Here’s a fun fact you might not have expected: history shows that home prices have typically gone up after 7 out of the last 8 presidential elections! Let’s dive into those numbers and what they might mean as we move forward.
A Look at Historical Trends
Since the early ’90s, most election cycles have been followed by a steady rise in home prices:
- 1992: $105,500 ➔ 1993: $109,100 🆙
- 1996: $122,600 ➔ 1997: $129,000 🆙
- 2000: $147,300 ➔ 2001: $156,600 🆙
- 2004: $195,200 ➔ 2005: $219,000 🆙
- 2008: $196,600 ➔ 2009: $172,100 ⬇️
- 2012: $177,200 ➔ 2013: $197,400 🆙
- 2016: $235,500 ➔ 2017: $248,800 🆙
- 2020: $296,700 ➔ 2021: $350,700 🆙
Looking at this data, the 2008 housing crisis stands out as the one exception, when the economy as a whole faced intense turbulence. Beyond that, the trend leans towards growth.
What’s Ahead for Us?
As we step into the post-election phase, the housing market may experience a few “dusty” weeks as interest rates adjust and we get a clearer picture of the economic policies that will shape the future. While we can’t predict every detail, here are three things to keep in mind:
- Interest Rates Are Key: We’ll likely see some movement here. Even a small adjustment in interest rates can affect affordability, influencing buyer demand and price stability.
- Economic Policy Matters: This could impact everything from new housing developments to tax credits/changes. Stay tuned as policymakers reveal their plans for housing and infrastructure.
- Buyer and Seller Confidence: Elections bring some level of uncertainty, but that often shifts to renewed activity as we move into the following year. Whether you’re buying or selling, the right strategy can make all the difference.
Staying Ahead
If you’re thinking about buying or selling, now might be the perfect time to reach out and get an idea of your options. The trends may show a bump in prices, but every market has unique factors to consider.
Have questions or just want to chat about what’s next? Feel free to get in touch—I’m here to help you navigate the market with confidence!
If you’re considering a move or investment and require a trusted Real Estate Broker, we’re here to assist you. Contact us via email at TEAM@McDanielCallahan.com, complete the form below, or give us a call at 925-838-4300. We are ready to provide expert guidance and support for all your real estate needs. Terry McDaniel DRE License #00941526
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