As Some Hold Off On Big Purchases Due To Shutdown, Many Are Undeterred

• October 8th

by UrbanTurf Staff

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In the thick of the federal government shutdown, a new Redfin–Ipsos survey finds that 17% of Americans are delaying big-ticket purchases like homes or cars — and another 7% are cancelling outright.

While that may sound worrisome for markets, perhaps more telling is that 65% of respondents say the shutdown hasn’t changed their plans. The data suggests that the broader confidence in consumer behavior isn’t collapsing — but pockets of hesitation are creeping into decisions about homes and mobility.

For the real estate market in particular, the implications are nuanced. Mortgage rates have softened from their peaks, but prices remain stubbornly high, keeping deals tight. In that context, potential buyers who already feel on shaky ground may hit pause.

“People across the country are taking in the news and thinking, ‘we’ve faced inflation, tariffs, job losses, a volatile stock market, and now a government shutdown–what’s next?’" Redfin Chief Economist Daryl Fairweather said. "It’s understandable that some people are reconsidering buying a home or a car when the economy feels uncertain.” 

Yet even amid the noise, many buyers are pressing ahead. Those with stable income sources or sufficient savings are less likely to be shaken by the shutdown headlines. Redfin argues that for this majority, the status quo holds — and their plans remain intact. 

In the DC area, where government employment plays an outsized role in local economies, the survey’s findings may carry extra weight. If even a modest share of federal workers—contractors or staffers—pause on home purchases, transaction volume could feel the effect. A report out later this week will provide a better sense of the effect that the shutdown had on the regional market in September. 

This article originally published at https://dc.urbanturf.com/articles/blog/as_some_hold_off_on_big_purchases_due_to_shutdown_many_are_undeterred/23943.