Trump’s election win boosts Republican homebuyer optimism
Republicans are suddenly more optimistic about the housing market after Donald Trump‘s presidential election win, while Democrats grow less so, 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 without a party affiliation were the most likely to say that the election had no impact on their homebuying plans, with 74% of independents reporting that Trump’s election had not changed their plans to buy a home either way.
“While majorities of adults say the election results do not influence their decision to buy or sell a home, among adults who are swayed by the outcome, a clear partisan pattern has emerged,” says Realtor.com Chief Economist Danielle Hale.
“This is mostly driven by different expectations about the economy and the impact of the new administration.”
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 reduced their chances of selling.
Those who said the election made them likelier to buy a home cited optimism about the economy as the top reason for changing their outlook, followed by trust in the new administration.
“I believe the interest rates will go down. Inflation will drop to affordable levels,” said one person who responded that Trump’s election increased their chances of buying a home, using a free-response section in the survey.
Another said: “Trump tends to focus on the economy and making it more acceptable for all.”
On the flip side, those who said the election results dented their homebuying prospects cited concerns about the economy and the new administration as the top reasons for their pessimism.
“Trump is going to ruin the economic strides we have at present and inflation will run so high due to his misguided approach on tariffs,” one of the respondents said, explaining why the election results made them less likely to buy a home.
“There is a very real possibility that the economy will tank, and having my own home will be impossible,” another added.
The new survey is just the latest indicator that Republicans and Democrats view the same economy very differently, depending on which party is in the White House.
Following the recent presidential election, Republican consumer sentiment soared nearly 30%, according to data from Morning Consult.
Sentiment among Democrats, meanwhile, has dropped 13% since Election Day.
When it comes to homebuying prospects, the Realtor.com survey found that men and Gen Z were the groups most buoyed by Trump’s election win.
Among men, 18% said that Trump’s election makes them likelier to buy a home over the next year, compared with just 10% of women.
And 22% of Gen Zers said the election boosted their homebuying prospects, compared with 19% of millennials, 12% of Gen X, and 6% of baby boomers.
The poll was fielded by Morning Consult from Nov. 7–8, 2024, among a national sample of 2,201 adults.
The survey was conducted online, and the data was weighted to approximate a target sample of adults in the U.S., based on gender, educational attainment, age, race, and region.
