1007 ET - Nearly one in four U.S. residents are canceling plans to make a major purchase, such as a home or a car, because of President Trump's new tariff policies, according to a Redfin survey. An additional one in three are delaying plans to make a major purchase. Nearly one in 10 survey respondents said they're planning to make a major purchase sooner than expected, while 8% said they already made a major purchase sooner than expected. The new tariffs are likely to impact the housing market in a number of ways. They have already sent mortgage rates on up-and-down swings, and they're likely to significantly increase construction costs. Tariffs and broader economic uncertainty are also pushing down homebuying demand and cutting into buyers' budgets. (chris.wack@wsj.com)
(END) Dow Jones Newswires
April 17, 2025 10:07 ET (14:07 GMT)
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