Real estate market activity is tracking down… is it just seasonal, or does the Presidential election have anything to do with it?
The only metric that didn’t fall this week was multiple offers, which increased so little it was virtually flat.
But showings were still strong… higher than the last two years and about tied with 2021. Realtor.com stated that this was the best week to buy a home in the Twin Cities… does this show that buyers are trying to make that happen?
Although activity is falling, it is still above last year. With pending sales higher than new listings, inventory could drop.
Keep in mind this is all normal behavior for this time of year… is the Presidential election in just 5 days also having an impact? See what history says in the infographic below from our blog at Keeping Current Matters.
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
Based on historical data, mortgage rates decrease in the months before and home prices and sales increase the year after the election.
The facts show Presidential elections only have a small and temporary impact on the housing market.
