How Trump’s Win Has Influenced Homebuyers and Sellers: ‘The Election Gave Us Confidence’

Buyers and sellers were waiting on the sidelines ahead of the 2024 presidential election—and now, that’s all changing.

Realtor.com® has been tracking the journeys of two homebuyers and one seller who hit the pause button due to high mortgage rates and in anticipation of the Federal Reserve’s rate cut in September.

Mortgage rates fell from 6.81% last week to 6.69% for a 30-year fixed home loan for the week ending Dec. 5—their lowest level in over a month, according to Freddie Mac.

In the Realtor.com 2025 Housing Forecast, economists project that mortgage rates will average 6.3% across the year, and end the year at 6.2%. That’s down from the anticipated 6.7% average expected by the end of 2024, but still well above the 4% historical average recorded from 2013 to 2019.

But now, with Donald Trump returning to the White House for a second term, some are ready to make some moves.

‘The outcome of the election gave us confidence’

Jonathan Ross, 47, and Jennifer Ross, 45, of Fort Worth, TX, had been looking at properties for the past eight months, but the election made them finally pull the trigger.

“We actually did put an offer in on a house this week near Park City, UT,” says Jonathan. “The outcome of the election definitely helped build our confidence to buy a house as expensive as the one we made an offer on.”

He says if Trump hadn’t won the election, the deal would have never happened.

“We would have been significantly more concerned about the economy had things turned out differently,” he says. “We would have likely invested in Europe rather than the United States.”

Jonathan says he’s not sure yet if they will live in the Utah property full time or if it will be a short-term rental.

“If it ends up being only a rental, we will probably continue looking for another home to live in,” he says. “Considering the outcome of the election, we are likely still in the market for another house or two, as well.”

If they buy a home to live in, they will pay cash, so interest rates won’t affect that.

“But if we buy an investment property, we will take out a loan, and I’m looking at mortgages with no cost to refinance so that we can reduce our interest rates without having to pay the high closing costs,” says Jonathan.

‘I listed my house right before the election’

Less than two weeks before the election, Camille Bradbury, 39, put her house in Taos, NM, on the market, after months of preparation.

It’s listed for $1,250,000.

“More buyers are definitely in the area with ski season coming, and the Realtors® expect the election will entice people to make a change,” says Bradbury. “The showings we have had so far went great.”

Bradbury and her partner bought the Taos property in 2021, when prices skyrocketed, and they paid $100,000 over the asking price because of stiff competition.

“I imagine a lot of millennials are in this boat given the hype about no inventory for our generation,” she says.

Once they sell, Bradbury says, they are planning to rent for the next year to save money as they decide where they want to settle down.

“I’m discouraged I am losing my first home and cautious about the second purchase,” she says. “It’s so hard to play the real estate game—we’re really just going to buy when it works for us and it’s the right house. It will happen in the right timing.”

‘I’m putting my search on hold’

Yancy Forsythe, 42, a real estate investor in Kansas City, MO, has been waiting for the right time to buy his next investment property.

He says that he hasn’t seen any impact on the local real estate market as a result of the election—so far, that is.

“Sellers are still overbidding for homes,” he shares.

For that reason, he’s now decided to put his search on hold until after the holidays to see how things shake out.

He’s keeping an eye on mortgage rates, but says “there’s a lot more at play in the market than just interest rates.”

He’s watching both inflation and unemployment rates and is staying flexible as he times his next move.