Better to buy than rent is not a phrase every buyer has been eager to hear over the last few years.
With higher home prices, elevated mortgage rates, and affordability concerns, many buyers have been waiting for the market to feel easier. But according to Bank of America’s 2026 Homebuyer Insights Report, the mindset may be starting to shift.
For the first time since 2023, more Americans say it is better to buy a home in the current market than to rent or move in with family.
According to the report:
- 53% say it is better to buy
- 47% say it is better to rent or move in with family
That does not mean the market suddenly became simple. It means more people may be adjusting to the market we actually have, instead of waiting for the market they wish would show up.
Homeownership Still Matters to Buyers
Bank of America’s 2026 survey included 2,000 adults who either own a home, previously owned a home, or plan to own one in the future.
The report found that confidence in homeownership has improved compared to last year:
- 90% say a home is a valuable investment, up from 79%
- 94% say homeownership provides stability, up from 83%
- 87% say owning a home feels like a milestone, up from 78%
- 86% say it brings emotional fulfillment, up from 75%
That is a big shift in sentiment.
Even with affordability challenges, many Americans still see homeownership as more than a monthly payment. They see it as stability, long-term investment, and a major life goal.
Fewer Buyers Are Waiting for the “Perfect” Market
A lot of buyers are still hoping for lower prices or lower mortgage rates. That is understandable.
But the share of buyers waiting for better conditions has dropped:
- 71% are waiting in 2026
- That is down from 75% in 2025
Gen Z and Millennial buyers appear to be especially motivated to move forward.
Compared to last year:
- 68% of Gen Z buyers are holding out, down from 74%
- 70% of Millennial buyers are holding out, down from 77%
Younger buyers are also getting creative. According to the survey:
- 28% of Gen Z buyers are taking on extra jobs
- 32% are considering buying with friends or family
- 31% plan to use down payment assistance programs
In other words, buyers are not pretending affordability is easy. They are looking for ways to work around it.
Buyers Are More Willing to Compromise
The report also shows that more buyers are open to making tradeoffs.
Compared to the last two years, more respondents said they would consider moving for:
- A more affordable area: 76% in 2026, up from 71% in 2025
- Their dream home becoming available: 75% in 2026, up from 69% in 2025
- A better location: 71% in 2026, up from 65% in 2025
That matters in markets like Northern Virginia and the Eastern Panhandle, where price, commute, lifestyle, and resale potential all need to be weighed carefully.
For some buyers, the right move may mean choosing a smaller home, a different neighborhood, or a longer commute. For others, it may mean staying put a little longer.
That is where the gut-check matters. A compromise can be strategic. It can also become expensive if you compromise on the wrong things.
Affordability Is Still the Biggest Challenge
This is where we need to be very clear: buyer optimism does not erase affordability concerns.
Bank of America’s report showed that more respondents are feeling the pressure of both prices and rates:
- 58% cited expensive home prices as a top barrier, up from 46% in 2025
- 47% cited high interest rates, up from 40% in 2025
So yes, more people may believe buying is better than renting. But that does not mean every buyer should rush into the market.
The right question is not, “Is buying always better?”
The better question is, does buying make sense for your finances, your timeline, your lifestyle, and your long-term plans?
Sometimes the answer is yes.
Sometimes the answer is, “Not yet.”
And sometimes the answer is, “Yes, but not in the neighborhood or price range you originally had in mind.”
What This Means for Buyers
If you are thinking about buying, this shift in mindset matters.
More buyer confidence can lead to more activity, especially in homes that are well-priced and well-presented. That does not mean you need to panic. It does mean you need a clear strategy before you start touring homes.
Before buying, pay attention to:
- Your full monthly payment, not just the purchase price
- Resale potential, even if you plan to stay awhile
- Commute and lifestyle tradeoffs
- Neighborhood trends
- Condition, repairs, and future maintenance
- Whether a concession or rate buy-down could help
The goal is not to force a purchase. The goal is to make sure that if you do buy, you are doing it with your eyes wide open.
What This Means for Sellers
For sellers, this report is encouraging, but it is not a free pass to overprice.
Buyers may be more willing to act, but they are still affordability-sensitive. They are watching monthly payments, comparing options, and noticing when a home does not feel aligned with the price.
If you are selling, this means:
- Pricing still matters
- Condition matters
- Presentation matters
- Buyer objections need to be anticipated early
- Concessions may still be part of the strategy
A more optimistic buyer pool can help. But buyers are not throwing caution out the window. They are still looking for value, and they are still doing the math.
The Local Bottom Line
National surveys are helpful, but they do not tell the whole story.
Northern Virginia, Loudoun County, Western Loudoun, and the Eastern Panhandle can all behave differently. A well-priced home in one pocket may move quickly, while another may need more patience, better positioning, or a pricing adjustment.
The biggest takeaway from Bank of America’s 2026 report is this:
The market has not necessarily gotten easier. Buyers may simply be getting more realistic.
That shift matters.
When more buyers stop waiting for perfect conditions and start looking for workable opportunities, activity can follow. But whether buying or selling makes sense depends on the specific home, the specific market, and the specific numbers.
Make the Move That Actually Makes Sense
Whether you are trying to decide if buying is worth it, wondering if you should keep renting, or debating whether now is the right time to sell, you do not need a generic answer.
You need a real strategy.
We help buyers and sellers look past the headlines and into the details that actually affect their next move: pricing, resale, timing, competition, concessions, and the tradeoffs that matter most.
Before you make a move, let’s talk through the numbers, the risks, and the opportunities in your specific market. We will tell you what looks smart, what looks risky, and what might be worth waiting on.