The recent downturn in the stock market has caused many people to hold off on checking the status of their 401(k). However, a recent survey by the real estate company Redfin found that most buyers were undeterred by the diminished value of their stock holdings.

The survey was fielded to 1,000 respondents between March 9 and 11. Redfin acknowledged that the survey period occurred shortly before significant plunges in the market, including a drop into "bear market" territory a day later and a loss of more than 3,400 points on the Dow Jones Index on March 16.

Nevertheless, just 13 percent said the uncertainty of the market—which has swung wildly in response to the ongoing coronavirus pandemic—has affected their ability to buy a home. Seventy percent said the stock market changes had no affect on their buying power, while 17 percent said they weren't sure if the stock market was affecting their ability to purchase a home.

"Buyers have been feeling a push and pull between the stock market declines and the lower mortgage rates," said Daryl Fairweather, chief economist at Redfin. "On the one hand, buyers who had their down payment ready in cash saw their purchasing power increase as mortgage rates declined to historic lows. On the other hand, buyers who were planning to liquidate their stock investments for a down payment are watching the Wall Street roller coaster and the drastic actions the Federal Reserve is taking to bolster the economy."

The effect of the market drop was most pronounced in the San Francisco Bay area. Redfin notes that this is an extremely pricey metro area, with the median home selling for $1.3 million, and that many workers receive stock options as part of their compensation. A total of 26.4 percent of respondents from the San Francisco area said the market was affecting their ability to buy a home, compared to just 7.7 percent of those in Boston and 8 percent of those in Atlanta.

Respondents with high incomes were also more likely to report an impact, given that these buyers tend to invest more money in the stock market. Eighteen percent of respondents earning more than $200,000 a year said their ability to buy a home had been affected, compared to 13 percent of those earning between $100,000 and $200,000 and 10 percent of those earning less than $100,000.

Baby boomers were least likely to say their ability to buy a home had been affected by the stock market downturn, which Fairweather said was in line with advice that people transfer to more stable and less risky investment options as they get older. He said it could also indicate that baby boomers are able to rely more on home equity or other financial resources instead of drawing on market investments. Nine percent of baby boomers said the market had affected their ability to purchase property, compared to 14 percent of Generation Xers and millennials.