This year’s divisive general election has caused some voters to threaten to move to Canada should their candidate fail to win the White House.
But for those staying in the country regardless of who’s president, how will the election affect our country’s housing market?
“The real estate market is affected by just about anything and everything.” said Realtor Susan Jacobsen, of Starritt Realtors in Gilroy. “When people don’t feel secure or the news is negative, some people pull back and feel hesitant to spend money.”
While the election could negatively affect the housing market, Jacobsen doesn’t think it will.
“Typically in an election year, real estate is good,” she said. “Whoever we get for president, I think real estate will continue to do the same as it’s been doing, because demand is high.”
Demand for local housing can be attributed to Gilroy’s central location.
“You want to be at the beach tonight for dinner, you can be there,” Jacobsen said. “If you want to be in San Francisco, you can be there!”
According to Jacobsen, local open houses are thriving, with some sellers receiving multiple offers. The majority of people at these open houses are coming from San Jose and Silicon Valley.
Recently, the newer two-story homes in the area have had price reductions, Jacobsen said.
“Single storeys are selling well, and it’s a lot of the baby boomers thinking ahead and going ‘You know what? I’m done with stairs,’” she said. “So if you have a nice single storey, it’s kept up, and the neighborhood is nice, it’s going to be gone.”
