How the Election Results Impact the Housing Market

Prior to the 2024 U.S. presidential election, many Americans said they were waiting for the results to figure out their future plans for buying and selling a home. To get a pulse on that mindset, housing market platform Redfin surveyed more than 1,000 adults about their housing plans in the aftermath of the election. Of those surveyed, 22% say they'll consider moving now that the election is over and settled. Among them, however, 36% are considering relocating to another country, while 26% are thinking about moving to a different state. Another 21% say they are now less likely to move than they did before the election. Among those more likely to move, 17% are considering buying a new home, 12% might sell, and 13% are considering rental opportunities.

Nearly one-quarter of prospective first-time homebuyers were waiting until after the election to buy a home, according to a separate Redfin-commissioned survey fielded in October. Roughly one in six respondents to that survey said they were waiting to see if Trump’s plans for tackling “issues with affordable housing” are enacted before buying.

Some house hunters were waiting for the political and financial uncertainty surrounding the election to pass before making a big purchase. Redfin agents in several different parts of the country said in October that many would-be buyers were sitting on the sidelines until post-election, and expected activity to pick up around mid-November. Read more