The U.S. presidential race is nearing Election Day very soon and the outcome of the race will have an impact on everything in our lives, including the real estate market.
ALBUQUERQUE, N.M. — Early voting has begun in the U.S. presidential race and that outcome will have an impact on everything, including the real estate market.
Uncertainty and doubt plays a role in the market, as sales are down 8% this year compared to last year, realtor Skip Adams says. According to Skip, inventory is up about 25%. That is a good thing for buyers.
Skip also says interest rates are volatile and have a tendency to go down as the election nears. He says rates have dropped prior to eight of the previous 11 presidential elections.
Once the election cycle is over, prices go up usually. It’s better for sellers afterward.
Hear more of what #SoldBySkip has to say in the video above.
