Immigration Concerns Rattle Some Real Estate Moves
February 8, 2018
Heightened concerns over the nation’s immigration policies and proposals caused some U.S. homeowners to sell their homes or even choose to then not buy a home last year, according to a new survey of more than 4,000 homeowners in the U.S. commissioned by the real estate brokerage Redfin. Fifteen percent of consumers surveyed said that they either sold their home or did not buy one last year out of concerns over immigration policies under President Donald Trump’s administration.
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Nine percent of homeowners said they sold their home in the last year because they were worried they wouldn’t be able to stay or work in the U.S. much longer. Six percent of potential home buyers said they didn’t make a purchase for the same reason, the survey found.
“We’re having conversations with professionals working at large companies who are eager to sell or not buying because their visas are expiring or close to it and might not be extended,” says Gabriella Stewart, a Redfin real estate professional in Bellevue, Wash.
Housing markets in some areas of the country may be the most vulnerable to any changes in the immigration policy. For example, nearly 33 percent of respondents in Los Angeles said they sold or did not buy a home because of concerns over any changes to immigration. In Baltimore, nearly 19 percent of survey respondents expressed concern and about 17 percent in San Francisco.
Source: “Redfin Survey: 15% of Respondents Sold Their Home or Did Not Buy Last Year Because of Worry Over Immigration Policies,” Redfin (Feb. 6, 2018)
Updated: August 15, 2018