Sharp Drop in Consumer Confidence Raises Concerns for Housing Market

1 Credits

Consumer Confidence Raises Concerns for Housing Market

A troubling new report reveals a sharp drop in consumer confidence, and experts warn it could spell trouble for the housing market. The University of Michigan’s March survey showed an 11% decline in consumer confidence from February, and a staggering 22% drop since December 2024. With inflation expectations jumping to 4.9%, the highest since November 2022, many Americans are growing increasingly uncertain about their financial future.

Economists are particularly concerned about the housing market. Samuel Tombs, Chief U.S. Economist at Pantheon Macroeconomics, described the report as “horrific,” pointing to rising economic uncertainty and plunging stock prices. Experts say these conditions could keep potential homebuyers sidelined, as high inflation and concerns over job security make it harder for people to afford homes.

Retailers are already feeling the pressure. Kohl’s warned of a challenging 2025, noting that consumers, especially those with incomes under $50,000, are tightening their belts due to rising costs in rent, groceries, and housing. With more Americans pulling back on discretionary spending, the housing market could face further strain in the coming months. 

A drop in interest rates has agents reporting an increase in market action. Time will tell if this buyer motivation will continue.

Source: Link

U.S. Shoppers Increase Spending Slightly in February Amid Growing Economic Anxiety

U.S. shoppers increased spending, but only by a small margin in February, as anxiety over the economy grows. Retail sales rose just 0.2%, a slight rebound after a sharp 1.2% drop in January, according to the Commerce Department. Sales were up at grocery stores, home and garden retailers, and online shops, but fell at auto dealers, restaurants, and electronics stores.

This cautious spending signals growing uncertainty among consumers, with many still feeling the pinch from ongoing inflation, stock market declines, and the looming threat of tariffs. Big retailers like Walmart and Dollar General have warned that their customers are struggling, with many cutting back to afford only essentials.

Meanwhile, consumer sentiment plummeted for the third month in a row, down over 20% since December. The latest figures show a growing divide in confidence along party lines, with Republicans feeling more optimistic than Democrats about the economy’s future.

While jobs remain steady for now, and spending is showing some resilience, Americans are clearly bracing for tougher times ahead.

Source: Link

Fears Over Fate of Gene Hackman’s $4 Million Santa Fe Estate as Will Details Are Revealed

And finally, Fears are rising over the future of Gene Hackman’s beloved Santa Fe estate, valued at $4 million, following the tragic deaths of the actor and his wife, Betsy Arakawa, in February. The couple, found dead at their New Mexico home, left behind an $80 million fortune, but questions remain about the distribution of their estate.

Hackman’s 2005 will reportedly names Arakawa as the successor trustee, but it’s unclear whether his children—whom he had been estranged from—will inherit anything. The actor had confessed that his Hollywood career had strained their relationship, although they had reconciled in recent years.

Arakawa’s will directs her assets to a trust for charitable organizations and medical debts. Meanwhile, Hackman’s longtime lawyer is petitioning to block the release of autopsy and investigative reports, citing the couple’s desire for privacy during their decades-long retreat in Santa Fe.

Hackman, who purchased the property in the 1980s, spent years renovating it into a rustic, secluded retreat. With its stunning 360-degree mountain views, the home became his peaceful escape from Hollywood. As the future of this estate hangs in the balance, fans and family alike are waiting to see how it will be preserved.

Source: Link

About “3 Things You Need to Know” on OnTrack Agent.

3 Things You Need to Know” delivers concise, no-nonsense real estate news, ensuring that agents stay informed and ahead of the curve.

Stripping away editorial commentary, the show focuses on the key developments shaping the real estate industry and the broader U.S. economy.

Whether it’s market trends, legislative changes, or economic shifts, each episode distills the most important information into easily digestible segments.

Designed specifically for real estate professionals, “3 Things You Need to Know” equips agents with the insights they need to make informed decisions and thrive in a competitive landscape.

Stay connected to the pulse of the industry with timely updates that matter each weekday, Monday through Friday. Report your news by email info@ontrackagent.com.

 

3 Things You Need to Know – Copyright 2025 – OnTrack Agent

Buy Now

---