BofA Survey Reveals Americans Cutting Back On Homes, Buying Dumbbells Instead

BofA Securities polled approximately 1,000 U.S. participants between April 7 and April 10 as part of the Monthly Consumer Survey Series to gather insights into their anticipated spending habits. Here are some of the main takeaways from this month's findings.

Home and appliance purchase intentions for the next 12 months have significantly dropped.

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The percentage of respondents planning to buy a new home has steadily declined, falling from 23% in February to 20% in March and down further to 18% in April, a slight decrease compared to the same time last year.

Likewise, interest in purchasing a new appliance fell from 33% in March to 29% this month, marking a three-year low and a sharp decline compared to April 2024.

A growing share of consumers anticipate higher spending on sporting goods and home fitness over the coming year.

According to the survey, 18% plan to boost their spending in the above-mentioned category, the highest percentage recorded in the past two years.

This marks a notable rise from 13% in April of last year and reinforces the continuing generational movement toward healthier lifestyle choices.

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