Report: Perspectives Shaping the Housing Market

A new report on the housing market uses survey data of 4,270 U.S. homebuyers and sellers in 14 metros. The report is the first in a series of three analyzing the effects of politics and society, the economy and affordable housing, and technology.

The first report by Redfin tackles how politics and societal events affected these homebuyers and home sellers. Three key findings of the report were that 15 percent of respondents sold, or did not buy a home due to worry over immigration policies, particularly, the concern that they would not be permitted to stay in the country much longer; 18 percent of millennial homebuyers live in a political minority in their community, hinting at toleration of political diversity ; and 37 percent of people of color felt they may have been discriminated against when trying to buy a home, down from 43 percent in a previous survey, but still accounting for over one-third of that cohort.

“Red states like Arizona and Texas where we’re seeing high levels of incoming migration from the coasts may turn purple someday soon, thanks in part to millennials on the move,” said Nela Richardson, Redfin chief economist. “As young people leave their comfort zones in search of affordable housing, the result will be a less politically polarized country over time.”

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