11/16/2024
Donβt wait for rates to drop.π
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A recent Redfin survey found that 23% of first-time buyers were holding off on purchasing until after the election, citing factors like economic uncertainty, possible Fed rate cuts and potential policy changes from candidates. With election results now in, buyers and sellers are likely to refocus on the real estate market. Reflecting on historical data, DMAR Market Trends Committee member Michelle Schwinghammer observed, βIn the 11-county Denver metro area over the last three election cycles, we've seen increased month-to-month home price volatility leading up to an election, followed by greater price stability and a return to traditional seasonal patterns post-election. Once results are in, buyers and sellers tend to shift back to business as usual.β
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