Buyers eye 2026 as the year to make their move
A recent survey of prospective buyers found that most are motivated to close in the next year, and many are willing to pay more for certain amenities.
Key points:
- High home prices are keeping many Americans out of the market, but some buyers are set on finding a home despite elevated costs and mortgage rates.
- A REMAX survey of likely buyers found that older generations are more concerned about affordability, while younger buyers prioritize community.
- Even among these hopeful homeowners, nearly three-quarters said economic uncertainty and rising costs have delayed their plans
Despite rocky market conditions, some prospective homebuyers are determined to get to the closing table next year, even as homeownership remains out of reach for many Americans.
About 88% of those in the market for a new home are likely to buy in 2026, according to a recent REMAX survey of consumers who plan to transact in the next 18 months. This may be especially true of millennials and Gen Zers, who show strong interest in homeownership and are seeking help from older generations to make their dream come true.
High home prices delaying — but not derailing — purchase plans
Most prospective buyers surveyed said lower home prices or mortgage rates would expedite their plans by 6-12 months, but they were willing to pay more for a home in a safe neighborhood with shared amenities. Older buyers (age 60-65) were most focused on affordability, listing it as their top priority when choosing a neighborhood.
Buyers are also looking for easy access to grocery stores, restaurants and shopping, and they prefer areas primed for future development that would boost value and livability, the survey found. Since most Americans still view homeownership as a top way to build wealth, that long-term benefit appears to outweigh the pain of higher costs for some buyers.
Seeking community connections
Just over half of those surveyed said they're looking to buy in suburbs with friendly neighbors and a strong sense of community. This may be more important than ever to buyers — especially younger ones — as many are pushing off big life changes like marriage, kids and career moves until they can close on their first home.
More than two-thirds of the Gen Z and millennial buyers surveyed put a premium on community, compared with less than half of the older buyers.
"It's clear that lifestyle and connection are just as important as the property itself," Chris Lim, REMAX chief growth officer, said in the report.
What's less important? Bike shares, fitness centers, EV charging stations, nightlife and coworking spaces ranked low on the list of buyer priorities, the survey found.
Most buyers still feeling squeezed, but some are committed
While many buyers believe homeownership is possible, 71% of those surveyed said economic uncertainty and rising costs have already delayed their plans. In October, Redfin reported record high rates of canceled purchase agreements, often due to repair or financing issues — factors that could increase overall costs. Sellers are anxious about the market too, and this year at least 200,000 have withdrawn their listings. This causes a ripple effect, as many of these sellers are also potential buyers.
Overall buyer demand remains low, even if this is the most buyer-friendly market in years. People are cautious in the wake of an extended government shutdown, and most Americans are priced out of the market for the foreseeable future as homes remain unaffordable for those in the low- and middle-income brackets.
But amid these challenges, those who want to buy for the first time are taking out loans, relying on friends or family, working multiple jobs and delaying other big purchases to make homeownership possible.
"It's the job of real estate professionals to help prospective buyers find homes and neighborhoods that meet their financial needs," Lim said, "while also supporting the way they want to live."