Majority of Americans Say the Upcoming Election Plays a Part in When They Will Buy a Home
Of those surveyed, veterans are more likely to purchase a home prior to the election, while civilians are more likely to wait out the results of the election
Aug. 2, 2024
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Of those surveyed, 67% of veterans say they plan to buy a home in the next three years.
The upcoming presidential election is influencing prospective homebuyers, with many Americans taking it into account in their purchasing timeline. According to a recent report from home loan provider Veterans United, 60% of recently surveyed veterans and civilians that are planning to buy in the next three years are considering the election in their decision-making. More civilians prefer to wait until after the election to buy a home, whereas a higher share of veterans say they would prefer to buy before the election. Overall, 67% of veteran respondents intend to buy a home in the next three years, the highest percentage recorded in the survey's history. However, due to current market conditions, only 40% of veterans plan to buy within the next six months, a slight decrease from 42% in the previous quarter.
“The upcoming election is clearly weighing on the minds of prospective homebuyers,” said Chris Birk, vice president of mortgage insight at Veterans United. “Americans are considering the potential impacts of political changes on the economy and housing market, leading many to adjust their buying timelines accordingly.”
