Today is the day that Americans cast their vote for President of the United States! At the time of writing this article, it is still too early to know the results, but like most Americans, I am sitting on the edge of my seat with bated breath. I won’t express my political views in this article, but I am ready for buyer confidence to go back up so we can start selling homes again!
According to Homes.com, “Americans, by and large, tend to spend much more conservatively during election years, but this is especially the case with real estate,” and we have definitely seen this reaction in the market this year. Home prices have continued to drop at a slow pace in Houston, and homes are on average taking longer to sell.
“The most pressing problem is that nobody truly knows what the next president is going to do. They will have their own mortgage and housing policies, which in some cases can differ quite significantly from what we’ve grown accustomed to over the last president’s tenure in office,” Home.com reported. This election year is shaping up to be one of the closest races in history, and definitely one of the most controversial, so most Americans remain uncertain about the outcome.
After tonight, I hope that we can all breathe a sigh of relief that this crazy election is finally over, and we can hopefully go back to business as usual. This election has consumed us with negativity and uncertainty, so no matter what the outcome is, let’s move forward in a positive direction.
Everyone has to have a place to live, so let’s start selling homes again in the good ol’ USA and stop thinking about moving to Canada!