Survey: Election Influences Timing for 25% of Potential Homebuyers

After conducting an online survey including 2,570 U.S. adults, ""MortgageMarvel.com"":http://www.mortgagemarvel.com/ reported 25 percent of Americans said the upcoming presidential election would influence the timing of their decision to buy a home.

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More specifically, 13 percent said that if they were considering buying a home, they would delay their hold off until after the election because of the uncertainty it creates.

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Twelve percent said they would take the election into consideration, and it might cause them to postpone on buying a home.

""It's understandable that a considerable number of people say the upcoming election would give them pause for thought,"" said Rick Allen, COO of Mortgage Marvel. ""There has been speculation that tax policies could change depending upon who wins. Some have even indicated that the longstanding deduction for mortgage interest could be eliminated. It appears that mortgage interest rates will remain low for the foreseeable future, so there's no pressure on people to act before rates rise. In such an environment, I can see that cautious people would take a wait-and-see attitude before making a home purchase.""

Most, 53 percent, said the election has no impact on the timing of their decision to buy.

The survey, which was conducted by Harris Interactive, also found that the South had the highest percentage of people (17 percent) who said they would delay buying a home due to the election. The West had the most people (61 percent ) who said the upcoming election would have no impact on when they decide to buy.