Politics in Real Estate?
With the 2024 presidential election nearing, a Realtor.com® survey explored the impact of politics on Americans’ choices about where to live. About 23% of Americans say that both local and national politics play a role in their relocation decisions. The survey found that around 40% of people feel politically aligned with their communities, while a small portion reported moving to areas more in line with their beliefs. Notably, nearly one in five Americans has considered relocating due to political misalignment with their current area.
Political engagement also affects preferences, with frequent voters more likely to prioritize alignment with local politics than occasional or inactive voters. Liberal voters are slightly more inclined to value political considerations in their housing choices compared to conservative or moderate voters. Millennials, in particular, place high importance on national politics when choosing where to live, with about one-third reporting that political alignment is very important, outpacing Gen X, Gen Z, and baby boomers in this regard.
As mortgage rates ease and home prices stabilize, the survey suggests that political factors could influence housing decisions even more, especially among first-time millennial buyers who may prioritize alignment with local and national political landscapes when choosing a home.
You can read the full article from Realtor.com here.
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