More Americans Believe Buying a Home Is Realistic

An IPX 1031 survey of over 1,000 people revealed that the outlook for buying a home in 2025 may be significantly better this year, as 51% said they believed buying a home in 2025 would be realistic. This is significantly more than last year, when only 30% of respondents said homebuying was realistic. 

However, although homebuyer confidence is up, Americans still have concerns about the housing market and the challenges that come with buying. 

The survey found that 47% of respondents could not afford to buy a home in 2025 – most prominently millennials (51%) followed by Gen X (24%) and Gen Z (18%). Additionally, 67% overall said they were concerned about the real estate market, with the top concerns being: 

1. Rising home prices (34%) 
2. Interest rates (22%) 
3. Tax rates (7%) 

The same as last year, 1 in 3 respondents said they did not consider homeownership to be the American dream. 

Still, despite market concerns, more Americans are finding homebuying realistic this year, and more are planning to make the purchase. The survey found that 51% plan to buy a home in 2025, even if it takes some help from family to do so (which it will for 2 in 5 buyers). Those planning to buy this year include: 

1. Millennials (47%)
2. Gen Z (32%) 
3. Gen X (16%)
4. Baby boomers (5%) 

Of these potential buyers, 74% are shopping in the $500,000 or less range, and 45% are willing to spend $20,000 or more over the asking price. For 38%, the home they buy this year will be their first. 

What are these hopeful homebuyers looking for? 

Location is important for many, as 2 in 3 would give up their ideal location for the right house. The most desired home locations were: 

1. Suburban (49%) 
2. Urban (28%) 
3. Rural (23%)