Are You Waiting Until After the Election to Make a Move?

Are You Waiting Until After the Election to Make a Move? Let’s Look at the Data.

With the 2024 Presidential election right around the corner, you may be wondering if holding off on buying or selling is the right move. Election years have traditionally influenced the housing market, so let’s look at what the numbers reveal.

Election Years Bring a Temporary Slowdown

Home sales tend to dip slightly each fall, but in election years, that drop often becomes more pronounced. According to BTIG data, the housing market typically sees a slight dip in home sales in the month leading up to Election Day.

Why? It’s largely due to uncertainty. Many people prefer to wait until after elections to make major financial moves, including real estate purchases. A recent Redfin survey found that nearly 23% of first-time homebuyers are holding off until after the election, likely due to these feelings of uncertainty.

Home Sales Rebound After Elections

The good news is that these sales are not gone for good—they’re usually just delayed. Historical data shows that in 82% of election years, home sales bounce back the following year. This “post-election boost” happens as buyers and sellers regain confidence and feel ready to make moves again. Once election results are finalized and the uncertainty passes, many find it easier to take the next step.

What To Expect in 2025

Looking ahead, 2025 is expected to see a rise in home sales. Current forecasts project around 4.6 million total home sales in 2024, with that number climbing to 5.2 million in 2025. This trend aligns with the historical pattern, making it likely that the market will see strong activity in the months after the election.

Bottom Line

Election years often bring a temporary pause in the real estate market, but that doesn’t mean the opportunities are gone. Historical data shows a significant rise in home sales after elections, and early forecasts suggest 2025 will follow this trend. So, if you’re waiting for a clearer picture before buying or selling, rest assured: the market is set to pick up speed in the months ahead.

Ready to plan your move? At RE/MAX Sun Properties, we’re here to guide you through every step, making sure you’re positioned for success as the market heats up. Reach out today to make the most of Arizona’s upcoming busy season!