Discover how the upcoming election impacts the Idaho Falls Idaho mortgage market. Learn the market trends and how to make the best real estate decisions.
Kiersten Landers
Empire Home Loans, Inc.
Phone: (208) 270-3861
Email: [email protected]
NMLS# 2491643
Company NMLS# 1839243
Discover how the upcoming election impacts the Idaho Falls Idaho mortgage market. Learn the market trends and how to make the best real estate decisions.
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Kiersten Landers
Oct 22, 2024
4 min read
As we approach another presidential election, many Idaho homebuyers may wonder how the
political season will affect the housing market in Idaho Falls and surrounding areas in Eastern Idaho. While it’s natural to have concerns during an election year, history shows that there’s little evidence to suggest that presidential elections significantly impact home prices. Here’s what homebuyers in Idaho and Eastern Idaho should know about the market trends and how to make the best real estate decisions this season.
There’s a common belief that election years create uncertainty in the real estate market, causing homebuyers to hesitate. However, historical data tells a different story. Over the past few decades, home prices have actually shown steady growth during election years. Since 1987, the average home price appreciation during election years was 4.84%, slightly higher than in non-election years, which saw an average increase of 4.44%.
For those shopping for homes in Idaho Falls, Ammon, or nearby towns like Rexburg and Blackfoot, this is good news. The Idaho housing market remains strong, and with continued demand for homes in Eastern Idaho, there’s no reason to let election concerns deter your buying plans.
The housing market in Idaho Falls and Eastern Idaho is driven by several factors, and elections play only a minor role, if any. Here are the key elements influencing home prices in the region:
Supply and Demand: The available inventory of homes for sale in Idaho Falls and surrounding areas impacts prices. When demand outpaces supply, home prices tend to rise. The current low inventory in Eastern Idaho has continued to drive strong competition among buyers.