post-election real estate

May 27

Post-Election Real Estate: why now may be the perfect time for buyers to make their move

Is it really a buyer’s market? Yes. Yes it is.

originally published on greaternashvillerealtors.org on November 15, 2024

The election is over, so what’s next for the real estate market? Talk to any agent and they’ll tell you they had clients waiting until the election was over to make a move. Now that we know who our President will be for the next four years, will buyers come back to the market? I think this past week has shown us that they will. Whether it’s because they want to move to a different state, or finally move up in-house, we are seeing buyers start to prepare themselves to purchase in the next few months. While some will likely wait until after the holidays, the smart buyers are looking now.

If you have a buyer who has been on the fence, now is the time to reach out and make sure they are aware of the buying power they have. There is a lot of pent-up demand in the marketplace, and if everyone decides to come back to the market in the spring, buyers may be surprised about how competitive the marketplace can be. Remember, inventory is still not out of control, so the low supply/high demand rules will still be in effect until sellers have more confidence that they can get their home sold. Savvy buyers know that the interest rate will likely take a while to drop much further, so they are using their strong buying power now to get closing credits and under-list price deals and they can refinance in the future.

When you’re reaching out to your buyers, make sure they’ve talked with their lender recently too. A lot of people are surprised that they can afford to buy right now because of what they’ve heard in the media. The more information a buyer is equipped with, the more confident they will be when it’s time to pull the trigger. A lot of times, buyers are nervous about talking with a lender for the first time, but I always encourage them and let them know that even if they don’t qualify today, a good lender is going to be able to help them make a gameplan so they can qualify in the future.

So, create those searches, get your buyers updated on the market, and make a game plan to take advantage of the buyer’s market while it’s still here. When creating searches for buyers, remember to include expired and canceled listings. A lot of sellers have pulled their listings off the market and are planning to re-list in the spring, so take a look at the recently withdrawn listings and reach out to the listing agent if your client is interested. You may just make both the buyer's and seller’s holiday wishes come true!

Deborah Vahle is a Partner on the CityLiving Group mega team at Parks and has been involved with the STR world since 2016. She is a mom of five and is currently being educated by her children on all of the Taylor Swift albums and easter eggs.