Story Highlights
- 25% of non-homeowners think they will buy a home within five years
- 67% of U.S. adults think now is a bad time to buy a house
- 65% of Americans think home prices will increase in the next year
WASHINGTON, D.C. — The share of U.S. non-homeowners who expect to buy a home within five years has dropped to 25%, the lowest Gallup has measured in seven readings since it began asking the question in 2013.
Another 28% of non-homeowners now say they expect to buy a home within 10 years, and 45% do not think they will do so in the foreseeable future.
Between 2013 and 2018, non-homeowners’ intentions to buy a home within five years were much higher than they are now, ranging from 41% to 49%. When Gallup next asked the question in 2025, that figure had dropped to 30%.
The poll finds that 61% of Americans say they own their primary residence, while 34% rent. Homeownership in the U.S. has averaged 61% in Gallup polls since 2012, down from 70% between 2001 and 2011.
The latest findings come from Gallup's annual Economy and Personal Finance poll, conducted April 1-15, a period when the median home price hovered around $409,000 and mortgage rates, while somewhat lower than a year ago, remained well above the historic lows of 2020 and 2021. Americans’ views of the nation’s economy and their outlook for their own financial situation have also worsened. Taken together, these conditions help to explain why many non-homeowners see purchasing a home as increasingly out of reach.
The decline in near-term homebuying intentions is most pronounced among younger non-homeowners, who would typically be the most likely first-time buyers. Two-year combined averages of the data show that just 29% of non-homeowners aged 18 to 34 in 2025 and 2026 say they expect to buy a home within five years, down from 57% in 2013 and 2015 and 53% in 2016 and 2018.
At the same time, the share of young non-homeowners saying they will not buy in the foreseeable future has more than doubled, from 13% to 30%. Notably, however, the share expecting to buy within 10 years has risen from 27% to 41%, suggesting younger non-homeowners have not abandoned the idea of buying a home but are pushing their timeline out significantly.
Another factor that makes the housing market difficult for would-be buyers is a lack of inventory. Currently, 18% of homeowners say they plan to sell within the next five years, 16% say within the next 10 years, and 65% say they are unlikely to sell in the foreseeable future.
Most Continue to Think Housing Market Is Bad
These challenges appear to be influencing how Americans view the housing market more broadly, as 29% say now is a good time to buy a house, while 67% say it is a bad time. This is the fifth consecutive year that a majority of U.S. adults have seen the market as unfavorable, a stark shift from most of the previous two decades when solid majorities were positive about homebuying. Still, the percentage of Americans saying it is a good time to buy a house has risen from its record low of 21% in 2023 and 2024.
Majorities of all major demographic groups think it is a bad time to buy a house, but there are differences within some groups. The widest gap in views of the housing market falls along partisan lines, with Republicans and Republican-leaning independents (41%) nearly twice as likely as Democrats and Democratic-leaning independents (22%) to say it is a good time to buy a house. The gap likely reflects the change in presidential administrations, as partisans' views of the economy and major institutions tend to improve when their party occupies the White House. Two years ago, 18% of Republicans and Republican leaners said it was a good time to buy a house.
In addition, women, young adults aged 18 to 34, and adults living in the Eastern U.S. are less likely than their counterparts to say it is a good time to buy a house.
Views of the housing market are broadly consistent across other key demographic subgroups, including income levels and urbanicity.
Expectations for Local Home Prices
Americans are largely in agreement about where home prices are headed, with 65% expecting prices in their area to increase over the next year, up eight percentage points from 2025. Meanwhile, 22% of U.S. adults believe prices will stay the same and 12% think they will fall.
Majorities of U.S. adults have predicted that home prices would increase since 2013, aside from 2020. That year, pandemic uncertainty pushed that figure down to 40%, while the share expecting prices to fall rose to 25%. Between 2008 and 2012, more Americans thought home prices would stay the same than increase.
City residents (71%) are more likely than their suburban (62%) and rural (61%) counterparts to expect an increase. Young adults aged 18 to 34 (79%) are also much more likely than 35- to 54-year-olds (64%) and those aged 55 and older (57%) to think home prices will rise. There are, however, no significant differences in views of Americans living in different regions of the country.
Bottom Line
Despite some signs of improvement, the U.S. housing market remains deeply challenging for would-be buyers amid increased economic anxiety, with home prices and mortgage rates remaining well above what many can afford. At the same time, the homeowners who might otherwise provide inventory show little intention of selling, keeping supply tight and prices elevated. Young adults appear to bear the brunt of this, with many pulling back on homebuying intentions in the near future.
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