Report: Presidential election impacting real estate decisions

Report: Presidential election impacting real estate decisions

Report: Presidential election impacting real estate decisions
Americans are factoring in the upcoming presidential election in their decision to buy or sell a home, according to a new report. A survey conducted by Redfin of more than 1,400 U.S. residents shows that 22 percent of homebuyers and sellers are considering the outcome of the election in their decision to move.

Thirteen percent of respondents said the election is causing them to be more hesitant to buy or sell a home compared to just nine percent who say the election is making them less hesitant. Although these figures are unlikely to have much of an impact in buyer and seller demand on the market overall, the emphasize the importance some are putting on the outcome of the election concerning their future.

Historically, presidential elections haven’t seemed to impact real estate trends very much. Home sales remain relatively flat in October and November of election years compared to non-election years.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 2.875 percent and 15-year rates are near 2.5 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.