For the first time since 2023, more than half of consumers say that buying a home is a better option than renting, per the latest findings from Bank of America, a potentially positive sign for the near-future housing market amid broader economic uncertainty.
The bank’s 2026 Homebuyer Insights Report found that 53% of 2,000 respondents (sampled in April and May 2026) said buying was preferable. Previously, 48% said so in 2025, 47% said so in 2024 and 56% said so in 2023.
This does correlate with some other findings. For instance, a February 2026 report from ATTOM found renting costs were outpacing homeownership costs in a majority (57%) of surveyed counties. At the same time, Zillow has found that a high number of homebuyers are dual-shopping, meaning searching for both homes and rental properties, indicating the enduring struggles of home affordability.
“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,” said Bank of America Head of Consumer Lending Matt Vernon in a statement.
The report pointed to an overall more positive attitude toward homeownership in general; ninety-four percent of respondents said they believe homeownership offers stability, compared to 83% in 2025.
That said, only 32% of respondents told Bank of America they were “confident” in their ability to buy a home this year. This, though, is higher than 2025’s result where 27% said they were confident.
Concerns cited by buyers are familiar ones, primarily relating to home affordability, such as high home prices (58% of respondents cited this as the top barrier to homeownership) and interest rates (47% of respondents’ top barrier). Seventy-one percent of buyers indicated they are waiting for interest rates to fall before buying a home, compared to 75% in 2025. Twenty-two percent of homeowners said they are planning to buy a new home in the next year, compared to 15% in 2025.
Around a third of Gen Z prospective buyers, the report found, are making moves such as leveraging home-buying assistance programs (31% of Gen Z respondents) or co-buying with family or friends (32%).
The mortgage lock-in effect, or sellers putting off moving to retain a lower mortgage rate, is “easing” per Bank of America’s findings. Homebuyers are more willing, per the report, to trade a higher interest rate for other desired factors such as an overall more affordable location.
Another shift in home-buying behavior identified by the report is consumers’ usage of AI in the home-buying process. Only 20% of buyers overall used AI, with 28% of millennials and 32% of Gen Z buyers doing so. Commonly cited uses were estimating costs such as mortgage payments (57%) or general education (55%). However, more than half of respondents indicated they still preferred a human component to steps such as touring homes or legal expertise.
“However, when it comes to high-stakes decisions, people still want trusted experts by their side,” said Vernon.
For the full report, click here.
