Many Americans aimed to buy a home in 2025 — but few actually did

A majority of would-be homebuyers remained on the white picket fence in 2025.

Less than 30% of Americans who planned to purchase a home last year actually went through with it, according to NerdWallet’s annual home buying survey.

The data, collected online by the Harris Poll in November, found that a vast number of would-be buyers postponed or cancelled their plans to purchase a home. And, as has been a matter of national discussion over the past several months, the reason is affordability.

Rising prices, stubbornly high interest rates and bidding wars kept the American dream at bay.

Just one in seven Americans, or 15% of respondents, shared plans to buy a home in 2026.

The 71% of Americans that reported a delay in their homeownership dreams largely cited their inability to afford homes on their local market, or difficulty in finding a home that met their needs. A 16% slice of hopeful buyers said they believe it will be easier to buy in 2026.

The median sales price of homes sold in the US reached $410,800 in the second quarter of 2025, according to the Federal Reserve Bank of St. Louis. A 10% down payment would cost first-time home buyers more than $40,000 upfront.

It’s no wonder that a third of homeowners considered themselves house poor in 2024, or having to spend a bulk of their household income on housing costs.

Kate Wood, NerdWallet’s mortgage and loan expert, predicted a potential softening of home prices this year, but it’s unlikely that interest rates will dramatically decline over the next 12 months. Rising property taxes and insurance costs will pose additional hurdles.

More than 60% of homeowners reported that owning a home was much more expensive than they anticipated.

“Rising home values also raise property taxes, and the frequency of intense weather and natural disasters has pushed up homeowners insurance premiums,” Wood said in the report. “It’s vital to look at how much it’s going to cost to own the home, not just buy it.”

Younger generations were notably more optimistic about their house hunting plans. Gen Z and millennial respondents to NerdWallet’s survey were more likely to plan on buying a home in 2026 than their Gen X and baby boomer counterparts.

The latter cohorts are more likely to already own a home — the median age of the average first-time homebuyer reached a record-setting 40 years old in 2025.

For Americans planning to make the leap to homeownership in 2026, it pays have deep pockets. Cash offers are likely to reign supreme in the US housing market this year. All-cash deals secured up to 26% of home purchases between 2024 and 2025.