February 25, 2019
Bill Shapard

Homebuyer savings accounts very popular with Oklahoma voters, particularly those younger

In an effort to make home ownership feasible for more Oklahomans, Homebuyer Savings Accounts have become popular in others states, and Oklahoma voters strongly support them according to the most recent SoonerPoll Quarterly Poll.

Over eighty percent of likely voting Oklahomans support legislation that would create homebuyer savings accounts, where perspective homebuyers could save monies to be used for a down payment or closing costs, receiving a state income tax deduction on any gains.

[QUESTION] A homebuyer’s savings account allows individuals or couples to save money in a dedicated savings account that can be used for a down payment and closing costs toward the purchase of a future home. Parents and grandparents can also contribute to the savings account. Those that contribute receive a state income tax deduction on interest gains. Knowing this, would you SUPPORT or OPPOSE legislation that create homebuyer savings accounts?

1. Strongly support 41.8%
2. Somewhat support 38.5
3. No opinion/Don't know/Refused [DNR] 9.4
4. Somewhat oppose 6.3
5. Strongly oppose 4.0

Also in the poll, 45 percent of Oklahomans identified affordability or adequate income as the biggest obstacle right now them in buying a new home.  Another 26 percent said they couldn't afford the down payment, which was the second biggest obstacle.

Of those age 25 to 34, 36 percent said they couldn't afford the down payment, and 40 percent of those age 35 to 44 said they couldn't as well. This was the top issue for those under the age of 44 who are those mostly likely needing to buy a new home.

"We need to help young Oklahomans to be able to buy a home," said Jessica Hickok, Chief Executive Officer of the Oklahoma Association of Realtors©, "and homebuyer savings accounts are a great way to solve this problem."

Nearly four in ten poll respondents between the ages of 25 and 34 said they would be likely to take advantage of a homebuyer savings account if they could, and an overwhelming 73 percent of those between the ages of 35 and 44 said they were as well.

About the Poll, Oklahoma’s public opinion pollster, asked these questions of Oklahoma likely voters as part of the SoonerPoll Quarterly Poll, and were commissioned by the Oklahoma Association of Realtors.

The scientific study was conducted from December 17-28, 2018 with 400 likely Oklahoma voters selected at random statewide from a tri-frame of both landline telephone and cell phones, plus SoonerPoll's proprietary online panel. The sample was weighted by age, political party, sex and congressional district in order to reflect the Oklahoma likely voter population for a primary election. The weighting was conducted using a 'layered technique.'

The sample reflects the traditional demographical profile of the Oklahoma likely voter with roughly half of respondents identifying as conservative and attending religious services once or more per week. The study has a Margin of Error (MoE) of ± 4.9 percent.

This poll not only conforms to the Standards of Disclosure of the National Council on Public Polls but exceeds the standard disclosure with a Call Disposition and Rate Calculation Report. A complete description of the methodology can be found here.

The poll's Call Disposition and Rate Calculation Report can be viewed here.  A beta version of the Weighting Table Report can be viewed here.

Bill Shapard
About the Author

Bill Shapard

Bill is the founder of and ShapardResearch, a full service market research firm based in Oklahoma City. Bill began his career in polling after working on major campaigns for both Republicans and Democrats in Oklahoma from 1996 until founding SoonerPoll in 2004.