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significant number of first-time homebuyers are putting their purchases on hold until after the presidential election, according to a Redfin survey. Nearly 23% of nearly 500 respondents who plan to buy within the next year said they're waiting for the outcome of the election before making a move.

    This hesitation is likely driven by uncertainty about how new housing policies will shape up in 2025 and impact overall economic confidence. Younger buyers, who are more concerned with affordability, may be particularly wary of making big decisions during this time.

    Some buyers are specifically keeping an eye on policy proposals from the candidates. Over a quarter (26.1%) said they're waiting to see if Kamala Harris' housing plan goes into effect, which includes $25,000 in down payment assistance for some first-time buyers. Nearly 16% are waiting to see how Donald Trump will tackle affordable housing issues.

    While this uncertainty may be temporary, it's a sign of buyer caution that could have lasting effects on the market. However, industry experts are split on whether the housing market will get a boost once the election is over. Some predict a rebound due to rising inventory and lower interest rates, while others say interest rates still haven't come down far enough to stimulate sales.

    Many first-time buyers are also waiting for other reasons, including saving up for their purchase or waiting for mortgage rates to decline further. Over 30% said they're still saving up, and nearly 29% said the timing isn't right for them or their family.