Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
According to a report issued by Realtor.com, counties switching their presidential votes from Biden to Trump in 2024 might see accelerated home price growth over the next four years.
The report, drawn from a study by the Journal of Real Estate Research, examined home prices and presidential election results across six elections from 2000 to 2020. Data showed that flipping to successful nonincumbent candidates outperformed other markets in home value appreciation.
Realtor identified 84 counties nationwide that shifted from Biden in 2020 to Trump in 2024, ranging from Florida’s Miami-Dade County to Montana’s Blaine County along the Canadian border.
Don’t Miss:
“These counties you identified could potentially experience superior housing performance following the election,” lead author Eren Cifci, assistant professor of finance at Austin Peay State University, told Realtor.com.
The pattern held regardless of political party. Areas supporting whichever nonincumbent candidate won the White House showed stronger price performance in subsequent years.
Federal spending often follows electoral shifts. “The rival party may recognize the critical role these counties played in securing their victory. Consequently, they might invest in these areas and work to improve living conditions to maintain voter support in future elections,” Cifci said.
Local engagement also drives growth. Communities voting for change often see increased civic participation, volunteerism and economic activity, which lift property values.
See Also: Unlock the hidden potential of commercial real estate — This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!
The research found no notable price impacts in counties flipping to incumbent winners or losing candidates. Cifci emphasized the findings indicate potential trends rather than guarantees.
Current market conditions vary widely among the 84 counties. Georgia’s Baldwin County saw November median list prices rise 53% year-over-year to $356,250, while Florida’s Miami-Dade County dropped 9.2% to $634,000.
The study primarily focused on how home prices, rather than the reverse, influence elections. Counties with strong price appreciation supported incumbents, while underperforming markets favored challengers.
“People feel more financially wealthy if they have a lot of housing equity,” said co-author Alan Tidwell, associate professor at the University of Alabama. “How financially wealthy they feel really impacts their sense of financial and economic well-being.”
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — you can become an investor for $0.80 per share today.
Price swings show broad regional variation. California’s Inyo County rose 4.9% to $562,450, while Montana’s Blaine County fell 43.79% to $120,000. Texas markets showed similar disparity – Culberson County jumped 75.71% to $264,450 as Hidalgo County declined 3.55% to $270,000.
The study tracked 84 counties across 27 states. Florida and Texas led with the most flipped counties at six and 10 respectively. California followed with seven counties switching their presidential preference.
Historical data suggests infrastructure spending increases often follow changes in voting patterns. Past election cycles saw upticks in road improvements, federal construction projects and housing development in areas that helped secure presidential victories.
Market analysts note the findings align with broader economic patterns linking political shifts to regional development. However, local market conditions, employment rates and population growth remain primary drivers of home values.
Read Next:
This article 84 Counties That Flipped To Trump Could See Home Prices Rise Faster originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
