Consumer confidence in the U.S. has sharply declined, with the Consumer Confidence Index dropping to 86 in April, its lowest since May 2020. This downturn is attributed to fears of a trade war, with nearly a third of consumers expecting reduced job opportunities and declining home purchasing plans. Factors such as President Trump's recent tariff policies have led to increased economic uncertainty, raising alarms about the spring housing market. The decline in sentiment spans all age groups and political affiliations, with pronounced effects on higher-income households.
Consumer sentiment has dropped significantly due to a potential trade war. The Consumer Confidence Index fell to its lowest level since May 2020, raising concerns about the housing market.
Consumer confidence fell broadly across demographics, particularly among those aged 35 to 55, reflecting fears about job stability and economic outlook amid changing tariff policies.
Hannah Jones, a senior economic research analyst at Realtor.com, stated that rising economic uncertainty due to tariff changes could negatively impact spring housing market activities.
Nearly a third of consumers anticipate job opportunities to decline in the next six months, mirroring fears last observed during the depths of the Great Recession.
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