Historically, home prices generally rise slightly more during elections that result in a party switch compared to elections with no party change. For example, California prices averaged 34% gains post-party switch since 1976, compared to 29% without change.
Mortgage rates behaved differently based on party control. With a change in political leadership, mortgage rates remained flat. However, when the party in the White House didn't change, average rates decreased by about 1 percentage point, indicating possible economic challenges ahead.
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