SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Nearly one-third (29.5%) of U.S. homebuyers said that seeing a rainbow flag in a neighborhood would make them more likely to make an offer on a home there, according to a new survey from Redfin (redfin.com), the technology-powered real estate brokerage. But respondents were divided: 22.3% of buyers said the presence of a rainbow (LGBTQ+ pride) flag would make them less likely to submit an offer, and roughly half (48.2%) said it would have no impact on their decision.
That’s according to a Redfin-commissioned survey conducted by Qualtrics in May and June 2023. The survey was fielded to 5,079 U.S. residents. This report focuses on the 1,256 respondents who indicated that they’re likely to buy a home in the next year, who we refer to as “homebuyers” and “buyers” throughout this report.
The following question was posed to respondents: “Imagine you were touring a home and you were able to afford the down payment and mortgage payments. If you saw each of the following on or around one of the neighbor’s homes, how would that impact your likelihood of making an offer on that home?” Participants were asked about 13 different flags, the rest of which will be discussed further down in the report.
Results differed widely by political preference and age, with younger people and Democrats most likely to indicate that they prefer to live in a LGBTQ+ friendly area. Roughly two of every five (41.4%) homebuyers who identified as Democrat said they’d be more likely to make an offer on a home in a neighborhood where they saw a rainbow flag. Meanwhile, more than one-third (34.6%) of Republican buyers said seeing a rainbow flag would make them less likely to make an offer.
Nearly two of every five (37.9%) Gen Z respondents said they’d be more likely to make an offer on a home in a neighborhood where they saw a rainbow flag—a higher share than any other generation surveyed. That compares with 30.9% of Millennials, 19.7% of Gen Xers and 17.7% of Baby Boomers.
“In today’s divided nation, living amongst likeminded people could be considered a neighborhood amenity, just like highly rated schools and walkability,” said Redfin Chief Economist Daryl Fairweather. “Remote work has allowed scores of people to move to new areas and deprioritize proximity to the office. Oftentimes, that means homebuyers self-sort into areas where their neighbors think and vote like them.”
A record 25.2% of Redfin.com users nationwide looked to move out of their current metro area during the three months ending April 30, up from 22.8% a year earlier and roughly 19% just before the pandemic. Many buyers are leaving their hometowns for more affordable areas—especially as mortgage rates rise.
Homebuyers were most put off by the idea of Confederate flags in their neighborhood. Roughly half (47.7%) said seeing a Confederate flag in a neighborhood would make them less likely to make an offer on a home there—the highest “less likely” share among the 13 flags respondents were asked about. Next came pro-life flags (31.1%) and anti-gun flags (27.5%).
Buyers were most drawn to American flags. More than two in five (44.8%) said seeing an American flag in a neighborhood would make them more likely to make an offer on a home there—the highest “more likely” share among the flags respondents were asked about. It was followed by Black Lives Matter flags (35.7%) and pro-choice flags (34.8%).
Homebuyers were most divided on Gadsden (“don’t tread on me”) flags: 25.6% said seeing one would make them more likely to make an offer, while roughly the same share (26.8%) said it would make them less likely to make an offer. Respondents were also divided when asked about anti-gun flags (29.7% vs 27.5%) and Second Amendment flags (30.3% vs 27.3%).
To view the full report, including charts, please visit: https://www.redfin.com/news/rainbow-flag-housing-survey
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home in certain markets can have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Customers who buy and sell with Redfin pay a 1% listing fee, subject to minimums, less than half of what brokerages commonly charge. Since launching in 2006, we've saved customers more than $1.5 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 5,000 people.
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