ELECTION 2020!?
Here we are again… Every 4 years it almost seems that the country comes to a stand still as we approach November. You get that uneasy feeling, not knowing what your economic future may hold. As always we want to bring you VALUE in any way we can. We thought it would be a good idea to share with you some Election Year stats. Sometimes looking at the past can help us see what the future may hold. In this graphic we’re taking a look at 2 separate stats. At the top, we’re looking at PENDING sales and at the bottom of the graphic we’re looking at NEW LISTINGS entering the marketplace. Looking at these 2 numbers we believe gives us a good understanding of buyer and seller sentiment at that point in history.
So the question is, are we seeing much change between the numbers when comparing election years? The blue bar on the graph shows the numbers for November, and the orange bar shows the highest number for the year. To be completely frank, we don’t see to much change between all 3 election years. In our review of this data, it seems that The real estate market kept doing what it normally was doing. In other words, there’s no clear swing of the numbers, up or down that we can see that clearly shows there was some drastic change in the market. It’s difficult to show you every angle of the market in 1 graphic but analyzing the numbers in the grand scheme of things, it almost seems that the normal swings that usually take place in the 4th quarter of each year (election year or not) don’t change too much.
The one thing that does stand out to us is the consistent decline in NEW LISTINGS ENTERING THE MARKET from 2008 through 2016 when looking at the bottom graph. It seems that as the years went by, less and less homeowners put their homes on the market. This of course means less and less inventory hitting the market, leading us to a supply and demand issue. The reduced supply of homes will always create a higher demand for homes, and higher demand in turn leads to higher prices.
In summary, it doesn’t seem that an election year has a noticeable impact on the real estate market or the direction it will take in the near future. The past 12 years have been fairly consistent when looking at the number of monthly Pending listings and the New listings entering the market. So it seems that all the hype and worry the electoin year may bring you is really just unnecessary concern.
ELECTION 2020!?
Here we are again… Every 4 years it almost seems that the country comes to a stand still as we approach November. You get that uneasy feeling, not knowing what your economic future may hold. As always we want to bring you VALUE in any way we can. We thought it would be a good idea to share with you some Election Year stats. Sometimes looking at the past can help us see what the future may hold. In this graphic we’re taking a look at 2 separate stats. At the top, we’re looking at PENDING sales and at the bottom of the graphic we’re looking at NEW LISTINGS entering the marketplace. Looking at these 2 numbers we believe gives us a good understanding of buyer and seller sentiment at that point in history.
So the question is, are we seeing much change between the numbers when comparing election years? The blue bar on the graph shows the numbers for November, and the orange bar shows the highest number for the year. To be completely frank, we don’t see to much change between all 3 election years. In our review of this data, it seems that The real estate market kept doing what it normally was doing. In other words, there’s no clear swing of the numbers, up or down that we can see that clearly shows there was some drastic change in the market. It’s difficult to show you every angle of the market in 1 graphic but analyzing the numbers in the grand scheme of things, it almost seems that the normal swings that usually take place in the 4th quarter of each year (election year or not) don’t change too much.
The one thing that does stand out to us is the consistent decline in NEW LISTINGS ENTERING THE MARKET from 2008 through 2016 when looking at the graph below. It seems that as the years went by, less and less homeowners put their homes on the market. This of course means less and less inventory hitting the market, leading us to a supply and demand issue. The reduced supply of homes will always create a higher demand for homes, and higher demand in turn leads to higher prices.
In summary, it doesn’t seem that an election year has a noticeable impact on the real estate market or the direction it will take in the near future. The past 12 years have been fairly consistent when looking at the number of monthly Pending listings and the New listings entering the market. So it seems that all the hype each election year and worry that may come out of what the future may hold really is just hype.
