I posted this new episode of Real Estate Minute in honor of tonight’s Vice Presidential Debate. It’s on CNN at 8PM EST.
I believe Presidential elections affect housing sales. There is a natural slowdown in the market in front of every presidential election.
After hitting a two-year-peak in July, pending home sales fell off slightly in August. But the National Association of Realtors says home buyers are still signing contracts.
A recent poll by Harris Interactive on behalf of MortgageMarvel.com shows 25 percent of Americans surveyed would prefer to know who our next president is before putting a down payment on a house. Among the 2,570 U.S. adults surveyed, 13 percent said they would definitely delay a home purchase until after the election; another 12 percent said the uncertainty might cause them to delay their purchase.
For more on how the presidential election affects the real estate market, read my article on CBS News: Presidential decision impacts housing sales.
Do you think elections affect the market?
Also, will you be tuning into tonight’s VP debate?