Many Americans feel confident about homeownership in 2025

This fall marked a national turning point. Not only has the 2024 election brought a major shift in power in the United States, but in recent months, inflation measures have eased, while consumer confidence has improved and federal have reduced interest rates.

Our survey of 1,000 voters found that 43% believe Trump’s policies will have a positive impact on future homeowners. Only 36% say Trump’s policies would likely not support future homeowners.

Respondents also expressed optimism about mortgage rates, which in October 2023 reached their highest level in more than 20 years. After the election, nearly 4 in 10 voters are more optimistic about mortgage rates in the near future, while just 28% are now less optimistic.

Older American voters are obviously more concerned about the future of mortgage rates; 45% are less optimistic about rates after the election. Many baby boomers, aged about 59 to 78, were home buyers in the early 1980s, when mortgage rates were significantly higher than they are today.

Americans still divided on direction of broader economy

Despite their optimism about some aspects of the housing market, Americans remain divided on the economic outlook more generally. Our survey found that more voters are concerned about the future of the economy (47%) than optimistic (44%).

Although this split comes at a time of political division, economic indicators are moving in the right direction for the United States. The annual percentage change in the consumer price index, a common measure of inflation, was 2.6% in October, close to the Federal Reserve’s 2% target.

Americans ready to resume big purchases after the election

After the elections, Americans are ready to spend.

Our survey found that one in three voters have delayed financial decisions while waiting for the election, including buying a car (16%), improving their home (12%), taking a vacation ( 12%) and buying a house (11%). Of these people, 77% are now considering moving forward.

The table below shows the percentage of voters who postponed financial decisions until after the election and are now willing to make different types of purchases. (Some will make more than one purchase.)

Concerns about the real estate market remain prevalent

Despite their optimism about improving mortgage rates, voters’ views of the housing market as a whole are less optimistic. Our survey found that more voters are concerned about the stability of the housing market (42%) than optimistic (37%).

In comparison, voters appear slightly more optimistic about inflation under Trump, with 42% optimistic. Over the past two years, consumer confidence in general has increased. In fact, leading up to the election, confidence had improved for four straight months and reached its highest level in six months, according to the University of Michigan Consumer Confidence Index.

Yet the affordability of essential expenses concerns voters. Across all age groups except Gen Z, voters identified health care costs as the issue they were most concerned about under Trump.

Conclusion: what is the future of the real estate market?

Voter optimism about the economy fluctuates – particularly after presidential elections. Following this year’s results, we found that more voters think a second Trump term will make homeownership more accessible, and more voters think optimistic about improving rates.

If you are considering purchasing a home, it is important to consider not only national political and economic factors, but also the characteristics of your local real estate market. Here are the best places for potential buyers.

Methodology

ConsumerAffairs commissioned Pollfish to conduct this investigation. The total sample size was 1,000 U.S. voters in the 2024 election. The survey was conducted online on November 7, 2024, with numbers stratified to account for sample demographics.

If you have any questions about the data or would like to arrange an interview, please contact [email protected].

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