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This is how presidential elections really affect home sales

Posted by   /  February 20, 2020  /  No Comments

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Credit: KTAR

By Sylvia Varnham O’Regan | The Real Deal

Data analysis predicts decline leading up to voters’ decision on Trump.

Who will be president come January? It’s the biggest question of the year — and a thorn in the side of brokers, who regard uncertainty as an enemy of sales.

“Election years are always the toughest years because people are hesitant,” said Stephen Kliegerman of Halstead Property Development Marketing. “They’re waiting to see an outcome.”

But do elections really influence the market?

Yes, according to a data analysis produced for The Real Deal by Miller Samuel CEO Jonathan Miller, who examined co-op sales in New York City between 2008 and 2019.

The analysis found that sales between June and October are as much as 12.7 percent weaker in presidential election years than non-election years, until they recover in November and December to levels seen in the beginning of the year.

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