These 3 Groups Are More Likely To Buy a Home After Trump’s Win — Here’s Why
Written by
Martin Dasko
Edited by
Jenna Klaverweiden
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According to a recent survey from Realtor.com, certain demographics said they were more likely to purchase a home following the election results than other groups. The survey found that 18% of Republicans, 18% of men and 22% of Gen Z respondents stated they were more likely to purchase a home due to how the election turned out. That compares with just 12% of Democrats, 10% of women and 6% of baby boomers.
Those who stated that the election results increased their chances of purchasing a home cited several reasons:
- They were optimistic about the economy (23%).
- They trusted the new administration (19%).
- They felt that the housing market would improve (17%).
Here are some reasons Republicans, men and Gen Z are the demographics more likely to buy a home after President-elect Donald Trump’s presidential victory than other groups.
Also see how Trump’s win could impact housing prices.
Republicans Got the Administration They Wanted
“The main reason more Republicans and men are saying they are more likely to buy a home as a result of the election is probably because of their hopes for the new administration,” said Seamus Nally, CEO of TurboTenant. “Republicans got the party and president they wanted in office, so they’re naturally going to be more optimistic about the new administration and hopeful that positive changes will be made for the housing market.”
While someone’s reason for voting is a personal decision that likely involves multiple factors, it makes sense to be optimistic about major financial decisions if their political party wins.
“Republicans have historically viewed Republican-led administrations as favorable for economic growth and stability,” said Samuel Kile, founding partner of Loyal Home Buyers. “Following the election, there may be increased optimism among Republican-leaning individuals about policies that promote homeownership, such as deregulation, tax cuts and incentives for new construction.”
These policies can be viewed as helpful when entering the housing market, so it makes sense that these groups would want to buy a home or feel like 2025 could be the year they could afford a mortgage payment.
A Focus on Homeownership
“Republicans, men and Gen Z appear more eager to invest in real estate, influenced in part by the future administration’s leader, whose background and success in real estate resonate with these groups,” said Brooke Leoni, founder of The Healthy Happy Home Seller and real estate agent with eXp Realty. “They view this leadership as aligned with policies that may support the preservation of homeownership opportunities.”
Another reason these specific groups could be more likely to purchase a home is that they may believe the new administration will introduce favorable policies that will make it easier to enter the market. Anyone who has been waiting to purchase their first home (like some Gen Zers) may want to jump at the opportunity when they feel that new opportunities are around the corner.
Gen Z’s Growing Interest in Homeownership
“As the oldest members of Gen Z are now in their mid-20s, many are entering the workforce, building savings and considering long-term investments,” Kile said. “Homeownership represents a key milestone of financial independence, and this generation, having observed the volatility of rental markets, may be more inclined to invest in property as a way of building stability and wealth.”
According to Redfin, the homeownership rate for Gen Zers was higher than it was for millennials and Gen Xers when they were the same age. The homeownership rate for adult Gen Zers between 19 and 26 was 26.3% in 2023, a slight increase from 26.2% in 2022.
Nally noted that Gen Z may be more likely to buy a home due to the election because this new direction could indicate change that will occur. “Even if it wasn’t the person they wanted, Trump is undoubtedly going to approach the housing market differently than the current administration, which means there is at least the potential for positive change,” he said.
Gen Z may see this period as an opportune moment to act while interest rates and market conditions are relatively stable.
Post-Election Dynamics at Play
Kile pointed out how the election outcome may shape attitudes toward real estate and significant financial decisions. “Policies favoring job growth, tax incentives and increased housing supply have likely contributed to a more positive outlook among these groups,” he said.
Those who were waiting to see how the election would play out are more likely to commit to major financial decisions if they got the desired outcome they were hoping for.
A Belief in an Improving Economy
Robert Washington, a broker at Savvy Buyers Realty, explained that he thinks many Republicans, men and Gen Z are more adamant about buying a home following the election results because many of them “view his victory as a favorable outcome.”
According to AP VoteCast, younger voters (those ages 18 to 29) were pretty evenly split, with 51% supporting Kamala Harris and 47% supporting Trump. Men of all ages were more likely to support Trump, with 53% of men 18 to 44 supporting Trump and 57% of men over 45 supporting Trump. Additionally, according to an NBC News exit poll in 10 key states, 94% of people who usually think of themselves as Republican voted Republican in this election.
Washington explained that these groups might feel that Trump’s policies could lead to a stronger economy, “which makes them feel more comfortable about buying a home.”
Some respondents in the Realtor.com survey cited optimism about the economy and trust in the new administration as reasons for potentially buying a home. Anyone who feels strongly that the economy will improve may be more likely to commit to a major decision like purchasing a home.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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