US homeownership sentiment hits 2023 high despite market hurdles

Gen Z and millennial cohorts are driving this shift in perspective, accounting for the 53% of respondents who now favor buying. While 71% of surveyed consumers are still waiting for prices and borrowing costs to decline, that figure has dropped from 75% in 2025. This growing impatience is reflected in the plans of current homeowners, 22% of whom intend to purchase another property within the next year, up from 15% in 2025.

Matt Vernon, head of consumer lending at Bank of America, noted that buyers are choosing to engage with the market rather than remain on the sidelines. However, affordability remains a significant barrier. As participants navigate these financial constraints, many are turning to technology for assistance; one in five prospective buyers reported using AI tools or chatbots over the past year to analyze market trends, evaluate neighborhood data, and calculate potential costs. The survey, conducted by Sparks Research, polled 2,000 U.S. adults between April and May.