The survey of 1,142 employed adults — including 959 full-time and 183 part-time workers — highlight differences across income levels. Nearly 57% of workers from households earning less than $50,000 report delaying or canceling a major purchase.
That compares with 48% of households making $50,000 to $100,000 and 35% of those earning more than $100,000.
Among renters, nearly half (49%) say they were holding off on major purchases — compared with 27% of homeowners. Roughly a third (32%) of respondents say their job security had no impact on their purchasing decisions.
Rising concerns about job security
Overall, two-in-three workers say they are somewhat or very confident in their job security, in line with 2024 findings from the Pew Research Center.
At the same time, 31% report being somewhat or very concerned.
“Many workers are worried about job security as they watch their companies adjust to this uncertain economy and increasingly look to AI and other new technologies for efficiency gains,” said Chen Zhao, Redfin’s head of economic research. “From a housing perspective, that wariness is keeping some would-be homebuyers on the sidelines.
“On the flipside, those who feel confident in their finances are facing less competition and have more negotiating power. Sellers should recognize that buyers are cautious, so pricing a home competitively and offering flexibility will be critical to closing a deal.”
Nearly two in five workers say they are more worried about job security now than six months ago. In contrast, 20% say they are more confident. Among those already concerned, 77% report heightened worry.
When asked why they feel insecure about their jobs, 32% cite their company’s performance, 17% point to tariffs and 16% mention the impact of artificial intelligence.
Emergency savings remain thin
The survey also found that 36% of workers lack an emergency fund to cover rent or mortgage payments in the event of a job loss or financial crisis.
Households earning more than $100,000 (68%) and homeowners (65%) are the most likely to have a safety net.
Lower-income households, renters and younger adults are less prepared. Only 37% of households earning under $50,000 and 40% of renters report having emergency savings. Among adults 18 to 34, fewer than half (44%) have backup funds.
Financial experts generally recommend Americans keep three to six months of expenses saved. But only 20% of those with savings say they can cover more than a year of housing costs, while 32% report having less than three months of coverage.
Younger workers were the least likely to have large reserves. Just 9% of those ages 18 to 34 say they have enough for a year of housing costs, compared with 38% of workers 55 and older.
The survey was conducted Aug. 7-8 and 13-14.
