PRESS RELEASE: What Does the Election Outcome Mean for the Real Estate Market in Northern Virginia?...
November 9, 2016
McLean, VA – Principal of HBC Group, Keller Williams Realty and author, Karen Briscoe, provides information on how the election results may affect the Northern Virginia and Washington DC region real estate market moving forward.
With the outcome of the 2016 election fresh on our minds here in the Northern Virginia area, principal of HBC Group, Keller Williams Realty and author, Karen Briscoe, shares insights into the potential influence of the election on the housing market moving forward.
“The 2016 election is unprecedented and the outcome may have been unexpected to many, thus we do not know the extent for certain. It is too soon to tell. Sales and inventory are still based on fundamental market principals, whether you are a seller or buyer, the price bracket of the property as well as location relative to DC city center.
The 2016 outcome most closely resembles the 2000 Gore-Bush 43 election, which was not a complete change over. The 2001 Northern Virginia market was up in price 13% year over year and the number of sales was up 6.4%. The market was beneficial for Sellers and more challenging for Buyers.
“We anticipate a lot of movement,” Briscoe states. “More than most recent election cycles.” Due to more uncertainty in Washington, we could experience unanticipated activity, so if you are in the market to buy or sell we recommend making a move now.
Anything unexpected, such as international events, dramatic fluctuations in the stock market, events like 9-11 or a sequestration would impact our market area more than others as well.
Karen Briscoe is principal of the HBC Group Keller Williams Realty McLean, a top performing office with approximately 300 agents. The HBC Group is in the top 100 of Keller Williams with over 145,000 agents worldwide. The Huckaby Briscoe Conroy (HBC) Group serves northern Virginia, DC and MD, will sell over $71M in residential real estate in 2016. Karen is the author of a newly released book titled “Real Estate Success in 5 Minutes a Day” available on Amazon.
Contact: Karen Briscoe, 5 Minute Press, 703-582-6812
