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onald Trump's election as the 47th President of the United States has sparked questions about its impact on the real estate market. According to Danielle Hale, chief economist at Realtor.com, the outcome is uncertain. "The housing market faces a significant shortage of supply, with an estimated 2.5 to 7.2 million homes missing over the last decade," she notes.

    The Republican party's plan to curb "unnecessary" housing regulations could add up to $90,000 to the price of a new home, but Hale suggests this might also lead to increased supply and lower prices. Making federal lands available for development could further boost supply.

    However, Trump's plans to reduce inflation through tariffs and mass deportation may have negative effects on the market. "Reducing immigration could severely hurt the labor supply needed for new home building," Hale warns, citing that up to a third of residential construction employment consists of foreign-born workers. This could lead to falling home prices and reduced employment in the homebuilding sector.

    While it's too early to fully understand the election's impact on real estate, some communities may feel its effects sooner than others. A recent study found that 23% of participants consider politics when deciding where to live, with millennials and liberal-leaning individuals being more likely to prioritize this factor.