According to a recent Redfin research, over one in four (24%) Americans are abandoning plans to make a significant purchase, like a home or a car, as a result of President Trump’s new tariff policy. Another one in three people (32%) are putting off plans to make a significant purchase.
That’s based on a Redfin-commissioned survey that Ipsos carried out between April 10–14, 2025. 1,004 adults in the United States participated in the nationally representative poll.
In April, President Trump announced a number of tariff plans, including 145% tariffs on China and 10% baseline duties on all other nations. Even if even greater tariffs have been put on hold, the measures have created stock market volatility and experts are worried that they could trigger a major economic downturn by increasing the likelihood of a recession, driving up prices, and lowering consumer confidence.
Approximately one out of ten (9%) poll participants stated that they want to make a significant purchase earlier than anticipated, and 8% stated that they have already done so.
Among Democrats, 43% said they are postponing a large purchase, and 36% said they are canceling plans to make one. By contrast, 21% of Republicans are postponing a significant purchase, and 15% are abandoning plans for one.
“Betting markets have the odds of a recession at higher than 50%, which is understandably making people wary of putting a big chunk of their money toward a house or a car,” said Redfin Economics Lead Chen Zhao. “Consumers are tightening their belts because they are rightly nervous about their job security and the prospect of paying more for everyday expenses. There are some potential silver linings for homebuyers: 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.”
There will probably be several effects of the increased tariffs on the property market. They have already caused fluctuations in mortgage rates, and they will probably cause building prices to rise sharply.
The market for homes is declining, and buyers’ budgets are being squeezed by tariffs and general economic uncertainty. One in five potential homebuyers, according to a Redfin survey, anticipate selling equities to help pay for their down payment; but, recent stock market declines brought on by tariffs may cause some buyers to change their minds.
