Following the announcement of Trump’s new global tariff regime on April 2, the housing market experienced some turmoil. Surprisingly, the index showed an increase of 1.1 points compared to March, driven largely by a rise in respondents who are not worried about losing their jobs.
However, the survey also revealed a significant shift in how people view the housing market. The percentage of respondents who believe it’s a good time to sell a house decreased by 6 points year over year and by 9 points compared to the previous month.
On the other hand, attitudes towards buying a house remained relatively stable. The percentage of respondents who think it’s a good time to buy increased by 3 points compared to March 2024 and by 1 point month over month.
Despite the slight improvement in sentiment towards buying, the majority (77%) still believe it’s a bad time to buy. Conversely, 58% of respondents think it’s a good time to sell.
The survey results provide insight into the current state of the housing market. Data from Altos shows a significant increase in inventory nationwide, while home sales have remained steady compared to last year. This trend has been ongoing since early 2024 and continues into the 2025 spring homebuying season.
Respondents may have noticed the growing inventory and stable sales, leading to the drop in the percentage of people who believe it’s a good time to sell a house due to increased competition among sellers.
Although the impact of Trump’s tariffs has not yet fully manifested in the economy, reports indicate that Americans are starting to take notice. Consumer confidence has declined by 32% since January, and a survey from Redfin revealed that 24% of respondents are canceling plans to make large purchases like homes, while 32% are pausing their searches.