Most Americans believe it is better to buy a home than to live in rental housing, according to the latest Bank of America Homebuyer Insights Report. This marks the first time in three years that report respondents favored homeownership over renting.
Sparks Research conducted a national online survey on behalf of Bank of America from April 13 to May 10, polling 2,000 respondents – 1,000 homeowners and 1,000 renters. More than half (53%) of respondents favored homebuying over renting or moving in with family (47%).
The survey also found 90% of respondents stating a home is a valuable investment, up from 79% in 2025, while 94% said homeownership provides stability, up from 83% in 2025. Nearly one-third of respondents (32%) were more confident in their ability to buy a home this year, up from 27% last year.
Prospective buyers cited affordability as the top barrier to homeownership, with 58% pointing to expensive home prices (up from 46% in 2025) with 47% pointing to high interest rates (versus 40% in 2025).
Fewer prospective buyers are waiting for market conditions to improve before purchasing. In this latest survey, 71% of respondents expected prices and interest rates to fall and are waiting until then to buy a home, compared to 75% in 2025. And slightly more than half (52%) of current homeowners said they expect to buy another home (a new or additional one), and more are accelerating their timelines, with 22% planning to buy within the next year, compared to 15% in 2025.
“We are seeing meaningful changes in attitudes toward homeownership,” said Matt Vernon, head of consumer lending at Bank of America. “Despite real and persistent challenges in the market, buyers and owners are increasingly optimistic, and many are starting to move forward rather than waiting on the sidelines.”
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