According to Coldwell Banker’s 2025 American Dream Report, 71% of aspiring homeowners are delaying at least one major life decision—getting married, having children and career changes—until they can afford to buy a home of their own.
The numbers reveal that 18% are delaying marriage, 18% having children and 17% changing jobs or careers. More than half believe they’ll be 40 or older when they purchase their first home, reshaping when and how people move, start families and advance their careers.
Coldwell Banker commissioned The Harris Poll to survey more than 3,000 U.S. adults, including nearly 900 aspiring homeowners, to understand how the American Dream has evolved and how homeownership is prioritized among other foundational life milestones.
“While affordability remains a significant hurdle, the desire for homeownership among Americans is so strong that many are restructuring their lives to make it a reality, from postponing parenthood to moving in with family to reduce expenses,” said Jason Waugh, president of Coldwell Banker Affiliates, in a statement. “This report underscores that people view housing not only as a foundation for personal and financial stability, but also as one of the most effective vehicles for building long-term wealth, often surpassing the stock market in perceived value.
“However, when people delay major life events in pursuit of homeownership, it inevitably shapes patterns in household formation and consumer behavior. That’s why unlocking homeownership matters, and why working with a trusted, knowledgeable real estate professional can be the key to helping people successfully navigate the market and achieve that milestone with confidence.”
In an interview with RISMedia, Waugh amplifies how agents should take note of the findings and employ certain strategies in order to guide clients, stressing that the report affirms the importance of homeownership to a great many people.
“It adds context and color to some of those theories,” he says. “As a real estate professional, it reinforces how important and how significant consumers perceive homeownership. You’ve got to really approach these relationships from a consultative standpoint and understand what is motivating or influencing these decisions to either wait, or go ahead and enter the market.”
The survey found that for younger generations, buying a home may be the new starting line for adulthood. More than four in five (84%) Gen Z (ages 18-28) aspiring homeowners are postponing at least one life decision until they can afford to buy a home, including nearly one in three (29%) that are delaying having children. However, more than half (53%) of aspiring first-time homeowners don’t expect to buy their first home until age 40 or older, suggesting milestones like starting families could be pushed back even further until homeownership is achieved.
Waugh explains that it makes more sense for agents to take a broad view of the survey rather than targeting specific age groups as potential homeowners.
“If 97% of Gen Zers who don’t own a home today want to be a homeowner, it doesn’t mean that all of a sudden my marketing strategy is targeting them,” he says. “As a real estate professional, you want to cast a wide net in whatever markets and communities that you service and support. That may be across three or four different generations of folks that make up your book of business.
“So I don’t know if you target this group because all of a sudden there’s this data point that says they want to transact. I think you take that data, and continue to have conversations around when they want to transact. If now is not the right time, how can you help create a plan that accelerates the position to be a buyer? It’s more of that in terms of strategy, getting them to what ultimately their end goal is.”
Despite affordability challenges, homeownership is still a foundational goal across generations, with 56% of U.S. citizens saying homeownership represents what the American Dream means to them personally—more than those who say the same for getting married or having children (42%), retiring by 67 (39%), building a successful career or business (39%) or earning a college degree (23%).
Financial motivations may also be a key factor, with 65% of Americans saying homeownership is a smarter long-term financial decision than renting in today’s housing market, and nearly half (48%) view investing in real estate as a better wealth-building tool than investing in the stock market.
Waugh also pointed out that survey results show that 84% of hopeful homeowners are willing to make concessions, such as taking on a side job (42%), buying a less ideal home like something smaller or a fixer-upper (35%), or moving to more affordable areas (35%) to make buying a home possible. Additionally, 36% have considered co-buying with family to afford a home, including 63% of Gen Z and 49% of millennials, with 33% having thought about co-buying with a non-romantic partner like a friend or coworker.
“If affordability is the headwind today, but ultimately you do want to become a homeowner, then let’s strategize how we can accelerate your savings plan or whatever strategy to make that end goal present itself earlier than later,” he says. “Interest rates and jobs are two of the foundational metrics that you look at if you want to understand the health of any particular housing market. While mortgage rates are trending downward, which creates more affordability, the uncertainty and softening of the labor market kind of counterbalances that. And things like the federal government shutdown and the cooling labor market, that creates normal anxiety and has an effect on consumer behavior.”
