More Americans now prefer buying homes over renting, BofA survey finds

More Americans now prefer buying homes over renting, BofA survey finds

Consumer confidence in homeownership in the U.S. has improved, with 53% preferring to buy rather than rent or live with family, the first shift since 2023. Despite high prices, mortgage rates, and limited supply, younger generations are driving this trend. Fewer consumers are waiting for lower rates or prices, and existing homeowners are more active in the market. Affordability remains a key challenge, while AI tools are increasingly used in homebuying decisions.

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