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But how does the election impact the housing market?
Here are seven key things the experts said toconsider when youre buying a home around election time.
He explained, Buyer and seller behavior can shift during an election year.
Some sellers might hold off listing their homes, leading to lower inventory and potentially higher prices.
Conversely, a post-election period might see a surge in listings and more negotiating power for buyers.
Election periods often bring a degree of uncertainty to the market.
Potential changes in policies related to housing, taxes and the economy can makebuyers and sellershesitant.
Claus said, Historically, election outcomes can influence interest rates.
While its hard to predict exact changes, elections can affect the Federal Reserves decisions on rate adjustments.
Monitoringeconomic forecasts and consultingwith financial advisors can help you decide whether to lock in a rate now or wait.
Understanding the platforms of the candidates can provide insights into potential policy shifts that might affect your purchase.
Local Market Dynamics
Real estate is highly localized, Claus said.
While national trends matter, understanding your local markets dynamics is crucial.
Even with a pending election, buyers still need to pay attention to their local markets.
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