I’ve been selling real estate now, through 4 Presidential election cycles (or 14 years). My experience has shown me that an election year is typically a bit “wonky” for the real estate market. Wonky can be good, bad, or just unsettled. As we came through the Fall of last year I urged sellers on the fence about selling to try and get listed in the early part of the year so they would avoid buyer uncertainty that occurs toward the end of the Summer in an election year.
I have to say that 2016 overall, surprised me. Business started off brisk and did not drop off really until late August of this year. Predictably, in mid-September, buyers started coming back out. However, a week ago it seems the world is focused on the election and things have gotten quiet again. As we wait for the election of our 45th President of the United States, buyer activity has slowed again. People are very focused on the event and the anticipation of what will happen on November 9th.
I can tell you from experience….. nothing. On November 9th the sun will rise and set as it always does and life will go on. People will refocus on their family activity and tv shows instead of the constant circus of the 24 hour news cycle.
Interest rates are still at an all time low and buyers should try to take advantage of them and buy while they can lock in. It is and will be business as usual for real estate in Loudoun County, election year or not. Don’t your dream home pass you by while you are looking the other way!
Kelly Gaitten is one of the top producing real estate agents in Loudoun County Virginia for more than 10 years. Whether you are interested in listing your home for sale, or buying a home in Loudoun County or Northern Virginia, Kelly is eager to serve you.