Trump’s election victory boosts Republican homebuyer optimism

Republicans are suddenly more optimistic about the housing market after Donald Trump’s presidential election victory, while Democrats are less bullish, according to a new survey commissioned by Realtor.com®.

Roughly 1 in 5 Republicans say they are now more likely to buy a home as a result of the election, while 24% of Democrats say they are now less likely to buy a home in the next 12 months, the survey found.

Voters with no party affiliation were more likely to say the election had no impact on their home-buying plans, with 74% of independents reporting that Trump’s election had not changed their plans to buy a home at all way.

“While most adults say the election results do not affect their decision to buy or sell a home, among adults who are affected by the result, a clear partisan pattern has emerged,” says Realtor.com’s chief economist. , Danielle Hale.

“This is largely driven by different expectations about the economy and the impact of the new administration.â€

Among current homeowners, most said the election did not change the likelihood they would sell their home in the next 12 months, with Republicans and Democrats responding similarly.

Democrats were slightly more likely to say the election decreased their chances of selling.

Those who said the election made them more likely to buy a home cited optimism about the economy as the main reason for their change in outlook, followed by confidence in the new administration.

“I believe that interest rates will decrease. Inflation will fall to affordable levels, – said one person who answered that Trump’s election increased their chances of buying a house, using a no-answer section in the survey.

Another said: “Trump tends to focus on the economy” and make it more accessible to everyone.

Conversely, those who said the election results hurt their home buying prospects cited concerns about the economy and the new administration as the main reasons for their pessimism.

“Trump is going to destroy the economic strides we currently have and inflation is going to be so high because of his misguided approach to tariffs,” said one respondent, explaining why the election results made them less inclined to buy a house.

“There is a very real possibility that the economy will weaken and owning my own home will be impossible,” added another.

The new poll is just the latest indication that Republicans and Democrats view the same economy very differently, depending on which party is in the White House.

After the last presidential election, Republican consumer sentiment increased by nearly 30%, according to data from Morning Consult.

Sentiment among Democrats, meanwhile, has dropped 13% since Election Day.

When it comes to home buying prospects, Realtor.com’s survey found that men and Gen Z were the groups most favored by Trump’s election victory.

Among men, 18% said Trump’s election makes them more likely to buy a home in the next year, compared to just 10% of women.

And 22% of Gen Zers said the election increased their home buying prospects, compared to 19% of millennials, 12% of Gen Xers and 6% of baby boomers.

The survey was conducted by Morning Consult from November. 7-8, 2024, among a national sample of 2,201 adults.

The survey was conducted online and the data was weighted to approximate a purposive sample of US adults based on gender, educational attainment, age, race and region.