A new survey from Redfin shows that concerns over President Trump’s tariff policies are causing a growing share of Americans to pull back on big-ticket purchases like homes and cars. Tariffs are not only raising costs for builders and manufacturers — they’re now weighing on consumer behavior.
- According to the survey, 24% of respondents said they are scrapping plans for large purchases due to tariff concerns, while 32% are waiting for more economic clarity before moving forward.
- Only 9% said they’re accelerating their plans, and 8% said they already made a major purchase ahead of schedule.
More Problems: 34% of those surveyed said they do not have an emergency fund to cover rent or mortgage payments in the event of a financial setback.
- About 50% do have a reserve, while the rest were unsure or declined to answer.
What They’re Saying: Redfin Economics Lead Chen Zhao said consumer caution is warranted. “Consumers are tightening their belts because they are rightly nervous about their job security and the prospect of paying more for everyday expenses,” Zhao noted.
- However, on the upside for prospective buyers, Zhao added that “the drop in demand could cause home prices to stay flat, or even fall, and there’s some chance mortgage rates could drop in the next few months.”
Bottom Line: Tariffs are hitting both sides of the housing market — slowing activity not just from builders but now also from buyers wary of financial risk and rising costs.
