How the 2024 Presidential Election Could Affect the Housing Market

With the 2024 Presidential election fast approaching, you might be wondering what impact it may have on the housing market. Whether you're a homeowner, an investor, or a potential buyer, understanding these trends can help you make informed choices. Let’s break it down.

Election Years and the Housing Market Slowdown

Every fall, home sales tend to slow down—it’s a seasonal trend in real estate. But in an election year, there’s usually a slightly larger dip in the weeks leading up to Election Day. According to data from BTIG, this pattern is seen time and again, with an extra layer of caution settling over the market as the election nears.

So why does this happen? It boils down to uncertainty. People often hold off on major decisions or purchases while waiting to see what direction the country will take. Redfin recently reported that 23% of potential first-time buyers are waiting until after the election to buy. That’s nearly a quarter of new buyers holding back, influenced by concerns around potential policy shifts and economic stability.

Home Sales Tend to Rebound After the Election

Here’s the good news: most of these delayed sales don’t vanish; they’re just postponed. As soon as election-related uncertainty fades, buyers and sellers often feel more confident to move forward, leading to a noticeable boost in home sales.

What This Means for 2025

Looking to the year ahead, the market is projected to follow the usual post-election pattern. The latest forecasts indicate that the U.S. housing market will likely see an increase in total home sales, with projections climbing from 4.6 million sales in 2024 to around 5.2 million sales in 2025.

For those of you in the Las Vegas area, this could mean an active market in neighborhoods across Centennial Hills, Skye Canyon, and beyond. If you’re considering selling, 2025 could be an opportune time to list. And if you’re in the market to buy, don’t be discouraged by the current slowdown—things are expected to pick up again after the election.

Bottom Line

While election years often bring a short-term slowdown in the housing market, this pause is usually temporary. If you’re waiting for a clearer picture, remember that the market is expected to pick up speed once election day is behind us. Whether you’re buying, selling, or just exploring, I’m here to help you navigate the market with confidence.