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Selling Homes and the Presidential Election

What does it mean for selling and buying homes now that the national elections are over?

Now that the election is over, it is time to get back to selling and buying homes! In a typical presidential election year, it is not uncommon for the market to slow down considerably in the early Fall with homebuyers delaying decisions or even delaying their search. Then, right after the election as uncertainty is removed; buyers are usually out looking again leading to new contracts being written during the months of November and December, a time of year when new business usually dips. 

To our surprise, this year has been a bit different. The market opened in the early Fall, and only slowed in the final weeks of the election. Even then, however, we have continued to see showing and contract activity. Buyers are out looking, contracts are being written and sellers are accepting. We are working our way through the inventory of homes on the market.  

I have buyers who are looking for a specific type of home that is not currently available on the market. Anyone have a 3,000 sq ft mid-century modern ranch to sell between I-170 and I-270? Last year, they would have had several choices. I think the real estate industry will be very busy this November and December with a number of closings in January. And no, the specific outcome of the election is not typically a determining factor in if buyers want and feel confident about buying. The more important drivers are value pricing and buyer/seller motivation and confidence, and low interest rates.

Take a look at some of the examples of homes that are currently on the market:

If you have questions about a particular area, neighborhood or property, please feel free to contact me for additional information. 314-283-7590  srobb@robbpartners.com

Please follow my weekly Real Estate blog every Wednesday for the latest on Unique, Distinctive and Historic properties! To see more and to keep up with the latest real estate news and most sought after homes for sale, please visit my website at www.robbpartners.com

About this Column: The market data is puller from the Mid America Regional Information System. All information is deemed reliable but not guaranteed. 

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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