If you are still considering owning real estate in Pinellas County we thought you might want to know what impact this election could have on the current state of the market here in the Clearwater-St. Pete Beach area?  We started by looking at the data that followed the last two elections.       

Price trends
You may think with all the uncertainty an election brings that prices would correct during and for a few months after the election.  That was not the case for this market.  Prices were largely un-impacted as the graph below shows.

Graph- Pinellas County as a whole price trends from 2012-2020.

Graph- Clearwater Beach 33767 area price trends from 2012-2020.
A look at just the Clearwater Beach area shows prices continued momentum and staying in a range.

Closed Sales
Looking at market activity during the months that followed the last two elections we see the total number of closings drop significantly but only in the January that followed both elections.  However, just like price trends closed sales bounced back to normal levels rather quickly.

Could the 2020 election have a different impact?

Presidential races bring uncertainty in the housing market, which changes attitudes among home shoppers, sellers and investors.  This uncertainty can affect sale volumes and values in all markets.  If people are uncertain on how the next president's policies will affect the economy, the stock market, or taxes then buyers and sellers may be more tentative.  It is not that consumers are so nervous they never want to buy it is that they want to see how things play out.

In the past two elections we see that the sales lost in November are generally recovered in the early part of the following year.  This election could be different.  If the policies of the incoming president impact economic growth, tax policy and jobs then buyers may refrain from making any decisions until things settle down. 

Bottom Line

Demand for property in the Clearwater Beach, St. Pete Beach market is extremely high. If mortgage rates remain low, the economy continues to recover, the real estate market should remain strong up to and past the election.  However a prolonged election uncertainty has the potential to create a chilling effect on market ready to burst with pent up demand amid the pandemic.  We remain highly optimistic about the local market however as we saw continued growth through the COVID crisis.    

We would love to know your thoughts on this article.  Please call or text us anytime.  We are always available to help you with your real estate needs or tell you about the area.  We appreciate you reading our article and using our website to search for your new home.  When you are ready to plan a visit please contact us and we can take care of everything for you.

We appreciate you.  See you on the beach!