The Blubber

Nearly a quarter of Americans—24%—are scrapping plans to make significant purchases like a home or car due to President Trump’s latest tariff measures, according to a new report from real estate firm Redfin. Another 32% say they’re putting those big-ticket purchases on hold.

These findings come from a Redfin-commissioned survey conducted by Ipsos between April 10 and 14, 2025. The poll surveyed 1,004 U.S. adults and is considered nationally representative.

In early April, President Trump introduced sweeping new tariffs, including a blanket 10% tariff on imports from all countries and a steep 145% tariff on goods from China. Though plans for even higher tariffs have been temporarily shelved, the current policies have stirred up financial markets and sparked concerns among economists about rising prices, weakening consumer confidence, and the risk of a recession.

While a small share of respondents (9%) said they’re accelerating plans to make a major purchase, and 8% said they’ve already moved up their timeline, the overwhelming trend is one of hesitation or withdrawal.

The data also reveals stark political divides. Among Democrats, 36% report canceling a large purchase and 43% are postponing one. Among Republicans, those figures fall to 15% and 21%, respectively.

The impact of the tariffs is already being felt in the housing sector. Mortgage rates have become more volatile, and rising construction costs are expected as imported materials grow more expensive.

Economic uncertainty and the added cost burden are also weighing on demand. Many prospective buyers are rethinking their budgets, and about 20% say they plan to sell stocks to help with a down payment—though recent market declines triggered by tariff news could make that strategy less viable.