Bank of America's 2026 Homebuyer Insights Report Explores Shifting Homebuyer Sentiment

Every year, Bank of America's Homebuyer Insights Report explores consumer preferences and behaviors to better understand the goals and challenges facing homeowners and homebuyers. This year, our data highlights signs that the market may be starting to turn a corner, the growing role AI plays in the homebuying journey, and the creative strategies Gen Z is using to achieve homeownership. Here's a more in-depth look at our findings:

More Americans Favor Buying Over Renting for the First Time Since 2023

For the first time since 2023, a majority of consumers say it's better to buy a home in the current market: 53% favor buying over renting or moving in with family (47%). Homebuyer confidence is also on the rise with 32% feeling more confident in their ability to buy this year, versus 27% last year. Still, affordability remains a top barrier, with 58% citing expensive home prices and 47% citing high interest rates. Meanwhile, fewer respondents are waiting for improved market conditions before moving ahead: 71% say they're waiting for prices and rates to fall before buying, down from 75% in 2025.

 

AI Becomes Part of the Homebuying Journey

This year's report also found that one in five prospective buyers and current homeowners (20%) used AI tools or chatbots in the past year for homebuying research, including 28% of Millennials and 32% of Gen Z. Among those who used AI, top use cases include estimating affordability, mortgage payments or closing costs (57%), general education and research about the process (55%), and researching neighborhoods, market trends or property values (52%). Although AI can be a useful tool, prospective buyers still prefer human expertise for key steps such as touring homes (55%) and legal or contractual advice (54%).

 

Gen Z Adapts to Today's Market

As in previous years, Gen Z buyers continue to find creative ways to work toward homeownership. Some are taking on extra jobs (28%) or considering co-buying with friends or family (32%) to make homeownership more attainable, and 31% plan to leverage homebuyer assistance programs.

 

This material is provided for your convenience and information only. Bank of America assumes no liability for loss or damage as a result of your reliance on information in this publication. Our goal is for the content of this publication to be accurate as of the date this issue was printed. However, due to rapid changes occurring in the programs, products, and services offered within the home financing industry, we do not guarantee the accuracy or completeness of the information presented.

 

Bank of America, N.A. Member FDIC.  Equal Housing Lender

© 2026 Bank of America Corporation. All rights reserved.

 

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