Americans from all walks of life are feeling heightened anxiety about their finances — and that could dampen the housing market’s recovery, according to a new survey from Bright MLS.
The survey of more than 3,300 adults found that a majority of Americans are worried about money across the board. However, this concern is felt most sharply among renters, lower-income households and Millennials, according to Bright MLS, the nation’s largest multiple listing service.
Even though major housing forecasts are calling for a gradual recovery in home sales and slight relief in home prices and mortgage rates in 2026, that optimism could be tempered by wary consumers.
“While home sales are projected to increase in 2026 as affordability improves, consumer confidence is moving in the opposite direction,” Lisa Sturtevant, chief economist at Bright MLS, said in a statement. “When people feel uncertain about their jobs, their debt or their ability to cover basic expenses, they are far less likely to make big financial decisions like buying or selling a home.”
Widespread money stress, but some consumers feeling it more
The survey found that more than 90% of renters are either somewhat or very worried about cutting back on essential spending, compared with 73.2% of homeowners. Meanwhile, 77.2% of renters are concerned they’ll have to take on more debt this year to get ahead versus 67.8% of homeowners.
Meanwhile, 82% of lower-income households earning less than $50,000 a year say they’re worried about having to spend less on everyday essentials. Still, even those earning $100,000 or more (70%) say they share this worry.
Among various age groups, more than 80% of respondents ages 30 to 49 are the most concerned of all age groups about cutting back on essential spending while 77.5% say they’re stressed about being able to pay down debt or take more on.
“Older Millennials, who fall squarely in this age group, are facing their third major economic shock,” Sturtevant said. “They entered the workforce during the Great Recession, were hit again by the COVID-19 pandemic during key life stages, and now face renewed economic uncertainty just as many are trying to buy their first home or move up to a larger one.”
Job loss fears are top of mind
Nearly two-thirds (66.2%) of Americans are concerned about the potential for job cuts in the next 12 months. And 60.5% say they’re fearful of losing their jobs or having their hours cut back.
And they have a right to be nervous. Recent employment data points to a weakening job market, with just 50,000 jobs added to the economy and an unemployment rate of 4.4% in December, which is little changed from the previous month, according to the Bureau of Labor Statistics.
With LinkedIn feeds flooded with constant news of high-profile company layoffs, it’s understandable that workers are wondering if they’ll be next to receive pink slips.
Americans are also in over their heads financially, with household debt hitting a record-high $18.59 trillion in the third quarter of 2025, up $197 billion from the previous quarter, according to data from the Federal Reserve Bank of New York.
What consumers’ fears mean for the 2026 housing market
The housing market is primed for a slow, stable recovery as mortgage rates moderate toward 6%, more inventory comes online in some areas and home prices decline in some areas.
But with broader economic certainty in the mix and consumers’ confidence in their own financial health, homebuying and sales activity won’t bounce back as quickly as the industry would like, Sturtevant noted.
“Lower mortgage rates and more inventory will bring some buyers back into the market,” Sturtevant said. “But for many households, economic concerns will continue to outweigh the benefits of better affordability. As a result, 2026 is likely to be a year of cautious progress rather than a full housing market rebound.”
