U.S. voters who cast their ballots by Nov. 1 prioritized economic issues over housing affordability when selecting their presidential candidates for the 2024 election, as indicated by a Redfin survey released Monday. Out of 1,002 adults surveyed between Oct. 31 and Nov. 1 who had already participated in the election, 63% identified the economy as their primary concern, while 59% emphasized inflation.

Other significant factors included the protection of democracy, immigration, and healthcare. Among the 14 issues identified in the Redfin survey, housing affordability ranked third to last, with only 38% of respondents indicating it influenced their presidential choice. The election is set for Tuesday. Conversely, housing affordability gained more importance in local elections, with approximately 40% of early voters acknowledging its influence on their decisions regarding local officials, though it still fell behind concerns about crime and safety, as well as the economy and inflation, according to Redfin. Furthermore, around 32% of participants in the survey believed mortgage rates would decrease if former President Donald Trump, the Republican nominee, were to win the election, whereas approximately 23% thought that a victory for Kamala Harris, the Democratic nominee, would have the same effect. Recently, mortgage rates surged to 7% for the first time since early July, a rise that has cost homebuyers approximately $33,000 in purchasing power from the historically low rates reached in mid-September, acknowledged by the real estate brokerage. Despite a 50 basis-point interest rate reduction by the Federal Reserve in September, home loan rates have increased as investors attempt to assess the potential impacts of heightened tariffs and government spending following the election, Redfin noted..