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THE PRESIDENTIAL ELECTION AND FLORIDA BEACH RESORT REAL ESTATE: A BRIGHT FUTURE AHEAD

Wednesday, June 26, 2024   /   by Richard Eimers

THE PRESIDENTIAL ELECTION AND FLORIDA BEACH RESORT REAL ESTATE: A BRIGHT FUTURE AHEAD

As we approach another presidential election, it's natural for those involved in Florida's beach resort real estate market to feel a touch of uncertainty. However, historical data and current trends suggest that this uncertainty is not only temporary but often followed by a period of growth and opportunity.presidential election year.pngRichard Eimers Broker Ownwe June 26, 2024

The Election Year PauseIt's common for people to hesitate on major decisions, like real estate purchases, during election years. This caution is understandable, given that new administrations can bring changes to economic policies. However, it's crucial to remember that this slowdown is typically just a brief interruption in the market's rhythm.Historical Trends Paint an Optimistic PictureData from the Department of Housing and Urban Development (HUD) and the National Association of Realtors (NAR) reveals some encouraging trends:
  1. Home sales increased in the year following nine out of the last eleven presidential elections.
  2. After seven of the last eight presidential elections, home prices went up in the subsequent year.
  3. In eight of the last eleven presidential election years, mortgage rates dropped between July and November.
These statistics suggest that the Florida beach resort real estate market could see renewed interest and activity as we move into 2025.Florida's Enduring AppealFlorida's unique combination of natural beauty, year-round pleasant weather, and world-class amenities continues to attract buyers regardless of political climates. The state's lack of income tax and business-friendly policies also contribute to a steady influx of potential property buyers, providing a solid foundation for the beach resort real estate market.Opportunities on the HorizonFor potential buyers, the coming months could present a unique opportunity. With some buyers sitting on the sidelines during the election season, there may be less competition for prime properties. Combined with the potential for lower mortgage rates, this could create favorable conditions for those ready to make their move.For sellers and current property owners, the anticipated post-election boost in sales and prices could make the coming year an excellent time to list a property or see an increase in your investment's value.Looking Ahead with ConfidenceWhile it's natural to feel some uncertainty during an election year, historical patterns and Florida's enduring appeal point towards a bright future for the beach resort real estate market. As we move through this election season and into the next year, both buyers and sellers can approach the Florida beach resort real estate market with optimism.Remember, while presidential elections may cause temporary pauses in the real estate market, they also herald new beginnings. For Florida's beach resort real estate, that new beginning looks particularly promising. The sun continues to shine brightly on Florida's beautiful beaches and the real estate market that surrounds them, regardless of who occupies the White House.

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Beach Road Realty
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798
Beach Road Realty

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