One-Third of Workers Delaying Major Purchases, Explaining Spring Housing Market Slowdown

More than half of low-income workers are delaying or canceling major purchases, according to a Redfin report that may explain the drop in March’s existing home sales. The trend is most pronounced among renters, with nearly half putting off large financial decisions—almost double the rate of homeowners. While two-thirds of workers say they feel secure in their jobs, the remaining third cite growing uncertainty, with 37% reporting greater job security concerns now than six months ago. Among workers earning under $50,000 annually, over half are avoiding major purchases. Meanwhile, 36% of all workers lack an emergency fund to cover housing costs in the event of a financial shock.