Dear Grumpy Gus,
Is it smart to sell during an election year or should I wait it out and see what the housing market looks like with a new Commander in Chief?
Tired of This Election Already
I think you mean Grumpy Marc. Assuming that you still have a home in the post-apocalyptic nuclear winter of 2017, waiting it out may not be the best thing to do. Granted the uncertainty caused by election years, especially ones that are close and hotly contested as this one has been, makes buyers nervous. Studies have shown that property sales can drop by as much as much as a half a percentage point during times like these. That doesn’t sound like much, but it can be huge. On the other hand if no one is putting their house on the market because they all believe this “political year theory “ and then you decide to defy this theory, you then become a rare commodity and you should make more money than you would when the market is saturated. Supply and demand my tired friend.