Redfin's chief economist, Nela Richardson

SEATTLE—As primary season wraps up, many homebuyers are pessimistic about the presidential election's effect on the market. That is according to a new survey by real estate broker Redfin, based here in Seattle.

As GlobeSt.com's sister publication, ALM's ThinkAdvisor.com posted, 27% of respondents said the election would have a negative effect on the housing market, up from 15% in a February survey. Sixty-three percent of homebuyers said the election would have no effect on the market, a 12 percentage point decline since February.

Redfin conducted its survey about Hillary Clinton, Donald Trump, Bernie Sanders and election-year politics in mid-May among 975 homebuyers in 36 states and Washington, D.C. Forty percent were millennials, and some 37% were first-time buyers.

“While homeowner anxiety over the election is clearly mounting, the likelihood of an immediate shock to the market is slim,” Redfin's chief economist, Nela Richardson, said in a statement. “It will take considerable time for our next commander-in-chief to implement policies that have any impact on housing.”

To read the full story on ThinkAdvisor.com, click here.

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Homebuyers Pessimistic About the Presidential Election's Effect on the Market

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