Trumps 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 th...