Homebuyer Insights Report 2026: Shift Towards Homeownership

According to the 2026 Homebuyer Insights Report from Bank of America, attitudes toward homeownership in the United States have notably shifted, marking a preference for buying over renting for the first time since 2023. The survey, which included input from 2,000 adults—comprising equal numbers of homeowners and renters with homeownership aspirations—highlighted a renewed interest in purchasing homes. This change signals a pivotal movement in real estate trends, underscoring an increased consumer confidence in the housing market.

The survey reveals that 53% of Americans now favor buying a home over renting or living with family, reflecting a significant uptrend from previous years. In 2025, 75% of potential buyers were delaying their home purchases in hopes of lower prices and interest rates, but this figure decreased to 71% in 2026. Younger generations, especially Gen Z, are driving this shift by taking on additional employment and pursuing co-ownership options. Such trends highlight a broader willingness among buyers to compromise on location and budget to navigate the current market successfully.

The report also indicates that 52% of current homeowners expect to purchase a new home, with 22% planning to move within the next year, up from 15% in 2025. This anticipated increase in market activity could significantly impact local real estate dynamics, as seen in areas like Sioux Falls. However, affordability remains a challenge, with many grappling with the financial strains of the current housing market. Despite these hurdles, the data suggests a growing movement of buyers adjusting expectations and leveraging available resources to enter the market as homeownership aspirations evolve.