Macomb County Michigan: What To Expect For Real Estate Activity During Election Time
By: Rick Giese RE/MAX First
Now, as we prepare for election time, you or even your clients may be wondering how the upcoming election could impact real estate activity.
The overall consensus? As you'll see below, there are several market variables and data indicating that homebuying is still on the rise and will remain positive.
Less people changing their plans – In a recent survey, Redfin found just 22% of buyers and sellers said the upcoming election is impacting their plans to buy or sell. That number is actually less than this time last year, when it sat at 32%.
Changes in housing and location preferences as a result of the pandemic seem to be outweighing anything to do with the election, which brings us to the next point.
Demand for space – More people than ever are learning and working from home, facilitating the demand for more space.
Low rates make upgrading even more appealing – The Fed still has rates at unprecedented lows, making buying and refinancing a hard bargain to pass up.
Historically, elections have minimal impact on activity – Another analysis by Redfin looked at home sales in past presidential election years over the last 40 years. Sales typically dip 1.5% in December and bounce back by 1.5% in January.
To see what your home could sell for in the current seller's market, take a look at this home value calculator, which is based on recent Michigan sales:
And if you have any questions about listing your home in these current conditions, or are even ready to kick the process off for real, give me a call Rick Giese
As always, reach out to me Rick Giese via phone 586.242.3100, email email@example.com, or Facebook MacombCountyLifeStyles.com If you have questions about this or any other real estate topic. I'm happy to help!
Rick Giese RE/MAX First