A new survey commissioned by Realtor.com® reveals a noticeable shift in housing market sentiment following Donald Trump’s presidential election win, with Republicans becoming more optimistic about the market, while Democrats show a decline in confidence.
According to the survey, approximately 20% of Republicans now feel more inclined to purchase a home due to the election results. In contrast, 24% of Democrats report being less likely to buy a home in the next year. Meanwhile, a significant portion of independent voters, 74%, indicated that the election had no effect on their homebuying decisions.
Realtor.com’s Chief Economist, Danielle Hale, explained, “While the majority of adults say the election results have not influenced their decision to buy or sell a home, among those who are affected, a clear partisan divide has emerged. This is largely driven by differing expectations about the economy and the new administration’s potential impact.”
For current homeowners, the survey found that most were not planning to sell their homes in the next 12 months, with both Republicans and Democrats showing similar responses. However, Democrats were slightly more likely to indicate that the election made them less likely to sell.
The survey also uncovered that Republicans who felt more optimistic about buying a home were primarily motivated by their belief that the economy would improve under Trump’s administration, and by a sense of trust in his policies. One respondent shared, “I believe interest rates will go down, and inflation will become more manageable,” while another noted, “Trump focuses on the economy and making it better for everyone.”
On the other hand, those who said the election made them less likely to purchase a home expressed concerns about the economy under Trump’s leadership. One respondent stated, “Trump is going to ruin the economic gains we have, and inflation will skyrocket because of his misguided tariffs.” Another said, “The economy could collapse, and owning a home might become impossible.”
The survey also found that certain groups were more influenced by Trump’s election win when it came to homebuying. Men and Gen Z were the most likely to express increased optimism, with 18% of men and 22% of Gen Z saying that Trump’s election made them more likely to buy a home in the next year. In comparison, only 10% of women and 6% of baby boomers felt similarly.
This survey adds to the growing body of evidence that political affiliation significantly shapes Americans’ views on the economy and housing market. According to data from Morning Consult, Republican consumer sentiment surged by nearly 30% after the election, while Democrat sentiment dropped by 13%.
The poll, conducted by Morning Consult from November 7–8, 2024, surveyed 2,201 adults across the United States. The data was weighted to reflect a national sample based on gender, education, age, race, and region.