HVAC buying indicator edges down in September, survey finds

The share of U.S. consumers who felt it was a good time to buy large household durables — an indicator of HVAC purchasing intent — fell slightly in September, according to the latest available data.

What’s happening: In the University of Michigan’s popular consumer survey, when asked whether now is a good or bad time to buy ‘major household items,’ 37 percent of respondents (across all ages and income levels) in September said it was a good time, down from 39 percent in August — and 52 percent in December 2024. 

• Meanwhile, the share of respondents who felt it was a bad time to buy during the month remained flat from August at 59 percent. The remaining four percent of consumers said they were uncertain. 

The big picture: September marked the second consecutive month when good-time responses fell, with the figure hitting its lowest point in the past 12 months. 

Zoom out: Along with purchasing sentiment, the university also tracks overall consumer sentiment, which slipped slightly from September to October, the most recent full-month data.

• “Overall, consumers perceive few material changes in economic circumstances from [September]; inflation and high prices remain at the forefront of consumers’ minds,” Joanne Hsu, the university’s survey director, wrote in late October.