Nearly One-Third of U.S. Renters Rank Housing Affordability As a Top-Three Issue in the Presidential Election: Redfin Survey
Nearly one-quarter of prospective first-time homebuyers say they are waiting until after the election to purchase a home. Additionally, homeowners are more likely to believe Trump is the best candidate for keeping home values high versus Harris, according to a
Redfin published three separate reports today about the intersection of housing and the upcoming presidential election, all based on a Redfin-commissioned survey conducted by Ipsos in
The first report focuses on which issues are important to renters and homeowners when it comes to which candidate they’ll support in the election.
- 31.6% of renters said housing affordability is a top-three issue, as stated above; that’s compared to 17.1% of homeowners.
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Kamala Harris voters were slightly more likely thanDonald Trump voters to rank housing affordability as a top issue. One-quarter (25.1%) of all respondents who plan to vote forKamala Harris ranked housing affordability as a top-three issue, compared with 20.4% of respondents who plan to vote forDonald Trump . - Over half (52.1%) of surveyed homeowners reported feeling better off financially than four years ago, compared to less than half (44.2%) of renters. That discrepancy is partly because soaring housing prices have helped homeowners build home equity.
The second report focuses on the share of house hunters who are waiting until after the election to buy a home.
- Nearly one-quarter (23%) of prospective first-time buyers who are likely to purchase their first home in the next year said they are waiting until after the election.
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Over a quarter (26.1%) of prospective first-time homebuyers are waiting to see if Harris’ housing plan—which includes
$25,000 in downpayment assistance for some buyers—goes into effect before they purchase a home. - Nearly one in six (15.9%) are waiting to see if Trump’s plans for tackling “issues with affordable housing” are enacted.
The third report focuses on which candidate homeowners believe would be best for keeping home values high.
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41.6% of homeowners believe
Donald Trump would be best for keeping home values high, while 35.3% believeKamala Harris would be best.
To view the reports discussed in this release, including charts, methodology and the full questions and answer choices, please visit:
https://www.redfin.com/news/renters-vs-homeowners-housing-affordability-election
https://www.redfin.com/news/homebuying–delay-election-survey-2024
https://www.redfin.com/news/survey-presidential-candidate-home-values-high
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Source: Redfin