According to Redfin’s latest survey of U.S. homeowners and renters, 23% of potential first-time homebuyers are delaying their purchase until after the election. The survey also revealed that 26.1% are waiting for Harris’s housing affordability plan, while 15.9% are eyeing Trump’s housing policy. Additionally, 18.3% of buyers are holding off until the Federal Reserve cuts interest rates in 2025.
What This Means for LA Buyers and Sellers
Election-related uncertainty is having a clear effect on the Los Angeles housing market. With 30% of respondents still saving for a home and 29% waiting for the right timing, many buyers are hesitant to make a move. However, as the election season passes and economic conditions improve, confidence is expected to rebound, driving increased activity in the LA market, especially by 2025.
Looking Ahead: Stronger Sales Activity in 2025
While current market conditions reflect buyer hesitation, experts project that home sales in Los Angeles will strengthen in 2025. Buyers and sellers should keep an eye on shifting political and economic landscapes, as these factors will play a pivotal role in the housing market’s future dynamics.
Contact Westside Los Angeles Luxury Real Estate Broker Abdo Pierre Faissal at Nourmand & Associates for more information 310-620-1038 / [email protected]