As a real estate agent, I’m used to hearing buyers and sellers say they’re waiting for an election to see what happens. Maybe they expect rates to move, the economy to improve, or they simply want more certainty before making such a major financial decision. But lately, that hesitation feels like it extends well beyond politics.
So I wanted to know what other agents were seeing. I surveyed readers of The Close newsletter, which reaches more than 100,000 real estate professionals, about three issues that could be keeping buyers and sellers on the sidelines: elections, economic concerns, and sellers’ expectations about what their homes are worth. The results point to a housing market where uncertainty is influencing decisions on both sides of the transaction.
More than 7 in 10 agents are seeing election-related delays
When I asked agents whether elections were affecting their local housing markets, 70.3% said buyers and sellers were delaying decisions. Another 10.8% said they were seeing uncertainty, even though activity hadn’t changed much.
Combined, 81.1% of respondents were seeing at least some effect on consumer behavior or sentiment.
That stood out to me because I’ve heard some version of “I’m waiting to see what happens with the election” many times throughout my career. Buying or selling a home is a huge financial decision, so I understand the desire to wait when people feel uncertain about what could change.
But an election doesn’t necessarily answer all the questions that affect someone’s housing decision. Mortgage rates, home prices, inventory, employment, and the broader economy all play a role. That made me wonder whether the election itself was really the biggest source of hesitation.
Economic concerns appear to be an even bigger factor
When I asked agents specifically about economic concerns, the results were even more pronounced.
86.2% said they were seeing buyers and sellers delay decisions because of economic concerns. Another 6.9% were seeing more caution, even though activity hadn’t changed much. Altogether, 93.1% of respondents said economic concerns were affecting buyer or seller behavior in some way.
That’s noticeably higher than the 70.3% who reported actual election-related delays.
I think that’s an important distinction. Someone may say they’re waiting for an election, but there can be much more behind that decision. Buyers may be worried about job security, affordability, mortgage rates, or whether home prices will change. Sellers may wonder whether they’ll get the price they want or whether they can afford their next home.
The election can become a calendar marker people attach those concerns to, but our survey suggests the broader economy may be weighing even more heavily on housing decisions.
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Sellers are adjusting, but expectations remain high
Hesitant buyers are only part of the equation. Sellers also have to decide what today’s market will realistically support.
When I asked agents whether sellers still expect their homes to sell for more than they’re realistically worth, 19.7% said it was a major issue in their market. Another 63.4% said seller expectations were still high, but were beginning to adjust.
Combined, that’s 83.1% of respondents who said unrealistic seller expectations remain an issue to some degree. Only 4.2% said most sellers understand current market conditions, while 12.7% said unrealistic expectations come up occasionally, but most sellers are realistic.
I’m seeing some of this firsthand. In my market, many sellers still have high expectations for what their homes should sell for. At the same time, inventory remains limited in some areas, and demand can reinforce those expectations. A desirable, well-priced home can still attract significant buyer attention, making it hard to convince every seller that the market has changed.
That’s why I think the 63.4% who said expectations are starting to adjust is particularly important. Sellers may not have completely recalibrated yet, but agents are seeing movement in that direction.
What I find most interesting
When I look at all three surveys together, I don’t see a housing market where people have simply lost interest in buying or selling. I see one where people are looking for more certainty before they’re willing to act.
More than 7 in 10 agents are seeing election-related delays, but more than 8 in 10 are seeing delays because of concerns about the economy. Meanwhile, more than 8 in 10 say unrealistic seller expectations remain an issue to some degree, even though most of that group says sellers are beginning to adjust.
The problem with waiting for certainty is that housing rarely provides it. An election can come and go without answering what will happen to mortgage rates, home prices, inventory, or the economy. Buyers and sellers may eventually have to make decisions based on the market in front of them rather than waiting for every unknown to disappear.
What this means for real estate agents
For agents, these results reinforce just how important education has become.
When a buyer says they’re waiting, the conversation shouldn’t immediately be about convincing them not to. Find out what they’re actually waiting for. If they’re concerned about the economy, talk through how different scenarios could affect their specific purchase. If they’re waiting for an election, ask what they expect to change afterward. Sometimes putting a specific concern into context can help a client determine whether waiting actually supports their goals.
The same applies to sellers. Pricing conversations need to be rooted in what’s happening in their market right now. That may mean explaining why a home can’t command the price it could have previously. But in a neighborhood where inventory remains tight, and buyers are competing for limited options, it may mean acknowledging that sellers still have leverage.
The goal isn’t to push someone into making a decision. It’s to give them enough current, local information to make that decision based on their circumstances rather than uncertainty alone.
Takeaway
Housing decisions are being shaped by more than one source of uncertainty. Agents in our surveys are seeing buyers and sellers hesitate because of elections and, even more frequently, uncertainty about the economy. At the same time, seller expectations remain a challenge, though signs suggest they’re beginning to adjust.
For agents, that’s an opportunity to bring the conversation back to what can actually be measured: local inventory, pricing, affordability, competition, and a client’s individual goals. We can’t tell clients exactly what happens next, but we can help them decide whether waiting for certainty is really the best move.
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