PHOENIX — Roughly one in five U.S. house hunters plan to sell stocks to help fund a home down payment, according to a Redfin-commissioned survey by Ipsos. The trend is particularly evident in markets like Phoenix, where older buyers are pulling back due to stock market volatility.
“In my area, buyers in their 50s and up are stepping away,” said Heather Mahmood-Corley, a Redfin Premier agent in Phoenix. “Their down payment money is tied up in stocks, and they’re worried about what comes next.”
Redfin’s economic research lead Chen Zhao noted that market swings cut into down payment funds and shake consumer confidence. Full results are available at redfin.com.
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