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Bank of America report finds majority uncertain about housing market

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June 3, 2025

Bank of America has unveiled its Homebuyers Insight Report which found that the majority of homeowners and prospective buyers are deeply uncertain about current market conditions and 60% are uncertain about whether it's a good time to purchase a home, according to a press release.

The study surveyed 1,000 homeowners and 1,000 renters.

The number of uncertain buyers has been steadily increasing, from 48% in 2023 to 57% in 2024. Yet most prospective homebuyers, 75%, expect both interest rates and home prices to go down.

Additional findings include:

• 22% of Gen Z homeowners went in with their siblings to purchase a home.
• 21% of prospective Gen Z homebuyers will pay for a down payment with a loan from family and friends.
• 62% of current and prospective buyers are concerned about major weather events.
• 65% of current homeowners are preparing for severe weather.

"With so many factors impacting the homebuying market, prospective buyers and current homeowners are left wondering what it all means for them," Matt Vernon, head of consumer lending at Bank of America, said in the release. "As our research shows, a majority of buyers feel the market is headed in the right direction, but many are still planning to wait for more favorable conditions before they decide to take action."