Homebuyers in New York are backing out of deals amid market volatility triggered by President Trump’s tariff announcement, which led to a steep stock market sell-off and $6.6 trillion in lost value. Brokers report a rise in canceled contracts, with UrbanDigs data showing a spike to over 1%, double the three-year average. Buyers are citing significant portfolio losses and liquidity concerns, with some pausing searches or attempting to renegotiate signed deals. While the luxury market remains largely stable due to cash buyers, even high-end deals are seeing delays. Agents are adjusting marketing strategies as buyers retreat in a shaky financial climate.
Homebuyers in New York
