One in four Americans want to know who the next president will be before deciding whether to buy a home, according to a new study.
Mortgage Marvel, Mequon, Wis., published this finding in a summary of results from a September online survey conducted by Harrison Interactive on behalf of PR Unlimited. The survey polled 2,570 Americans ages 18 and older.
Among the 25% of respondents who would factor the election into their decision, 13% says “I would delay buying a home because their is too much uncertainty due to the upcoming election.” A comparable percentage (12%) say “I would take the presidential election into consideration, and it might cause me to delay buying a home.”
More than half (53%) of the respondents, however, say the presidential election in November will have no effect on the timing of their decision.
The balance of respondents either are “not sure” how the election would impact their decision (17%) or say the election “would prompt me to purchase a home before the election” (4%).
The survey observes that men’s and women’s answers track closely across age groups. But as men’s ages increase, they become less concerned about the possible effects of the election. In the male (18-34) age group 42% say the upcoming election would have no effect on the timing of their purchase. At age 55-plus, 57% give the same response.
More than half (52%) of women ages 18-34 say the election would have no effect on their decision. This increases only to 59% at age 55-plus.
Regionally, the South has the highest percentage of people (17%) who say they would delay buying a home because of uncertainty over the election. Another 12% in the south say the upcoming election might cause them to delay buying a home. The West has the greatest number of people (61%) who say the upcoming election would have no effect for them on the timing of a home purchase.