Metro Detroit

REAL ESTATE VALUES IN AN ELECTION YEAR

October 13, 2016
NHE

Curious about what kind of effect an election has on residential real estate values? According to data from Freddie Mac (going back to 1980), home prices have increased on average 4.15% during election years and 4.37% during off years. So there is a difference, but it’s minimal.

election-house-price-chart

Of course, those stats don’t take into consideration the elevated level of crazy we’re seeing in the current election cycle. If you need to list your house, maybe reach out to us before November 8th; judging by the chatter in our Facebook feed, it doesn’t matter who wins because when it’s over, this:

masshystaria

And for those of you who really are considering a move to Canada if your candidate doesn’t win, talk to Jeff – he’s from Canada and would be happy to give you advice on acclimating to your new culture.  Lessons include embracing poutine; when to insert the letter “u” into your new language; and understanding Leaf Nation, a generation of losing…

Lou Bitove & Jeff Bortnick, owners of The New Home Experts®, have more than 30 years combined experience in real estate, much of that with builders like Pulte & Toll Brothers.  They also provide market research for area builders, developers and national firms.  If you’re considering a new home, remember: the builders rep represents the builder, not you.  Work with the only local agents in Metro Detroit to specialize in new homes, and save money in the process – ask us how!

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