Homeownership remains a cornerstone of the American Dream. The Coldwell Banker State of the American Dream Report* finds 71% of aspiring homeowners (defined as those who don’t currently own a home but want to someday) are delaying major life decisions, such as marriage, career moves, even pets, until they own a home. For Gen Z, the majority may see homeownership as the gateway to broader life goals as 84% are delaying major life decisions until they can afford to buy a home.

Despite economic headwinds, nearly two-thirds of Americans who don’t currently own a home (63%) say they would like to buy within the next five years, and 56% of Americans say owning a home defines the American Dream to them, personally. While upfront costs, such as downpayments, settlement costs, and competing financial obligations, pose challenges, buyers are adapting with intention and strategy.

Navigating Today’s Market: Focus on Numbers over Noise

In a dynamic market, clarity is critical. Buyers should anchor decisions in personal financial readiness and hyperlocal market data:

• Home Prices: There has been a deceleration of appreciation creating room for negotiation. Trends vary geographically.
• Mortgage Interest Rates: Even modest rate changes can significantly impact monthly payments. Scenario planning is essential.
• Inventory Levels: Increased supply is easing price pressure and expanding buyer options.
• Employment Landscape: Job stability matters more than headlines. Assess your income trajectory and risk exposure.

Affordability remains uneven, but opportunity exists. The key is aligning budget, timing, and tradeoffs with accurate data, not market noise.

Strategic Tradeoffs: How Buyers Are Adapting

Today’s buyers are willing to make calculated concessions to move forward. 84% of Americans are open to tradeoffs that make homeownership possible.

1. Income Boosts: 42% would be willing to pursue side hustles or second jobs to accelerate savings.
2. Flexible Criteria: 35% are open to buying a less ideal home, like a smaller home or one needing renovation.
3. Geographic Expansion: 35% are willing to explore more affordable neighborhoods or adjacent markets.
4. Co-Buying with intention: 36% have considered purchasing a home with family; 33% with friends or coworkers. Legal agreements are essential.
5. Multigenerational Living: 32% have considered living with family to save; 11% have already done so.
6. Income-Producing Properties: Buyers are targeting homes with rental potential, duplexes, ADUs, or extra rooms, while navigating local regulations.

Your Roadmap: From Aspiration to Action

Homeownership is achievable with a clear, personalized plan:

• Know Your Numbers. Start with a sustainable monthly payment, not a dream price. Factor in taxes, insurance, and maintenance.
• Remove Barriers. Explore payment assistance programs, gift funds, or co-buying structures. Adjust your search radius or must-haves.
• Own Your Timeline. Market cycles are unpredictable. What’s consistent is your ability to prepare.

Homeownership isn’t just about acquiring property; it’s about unlocking life decisions. The right plan turns “someday” into “soon.”

For Real Estate Professionals: Lead with Strategy and Empathy

Real estate professionals play a pivotal role in helping buyers navigate complexity:

• Lead with empathy and transparency. Prioritize client timelines over pressure.
• Provide affordability tools. Rent-vs-own calculators, rate scenarios, and market comparisons.
• Build readiness plans. Savings goals, down payment targets, and realistic timelines.
• Offer expertise in alternative paths. Co-buying frameworks, multigenerational options, and income-generating properties.

The most successful buyers won’t wait for perfect conditions. They’ll act with informed guidance from professionals who meet them where they are.

The Bottom Line

Homeownership remains a powerful vehicle for long-term stability and wealth. Whether you’re ready now or preparing for later, the path forward starts with intention, strategy, and informed decisions. You control the timeline.

*The report includes data from a survey commissioned by Coldwell Banker and conducted by The Harris Poll among 3,068 adults ages 18+, among whom 885 are aspiring homeowners (i.e., don’t currently own a home, but would like to someday).