5 takeaways from the 2025 Recent Homebuyer Report
The housing market is top of mind for buyers, lenders, and policymakers alike—and the challenges facing today’s first-time homebuyers are making national news. NBC Bay Area recently sat down with Truework President Ethan Winchell to discuss the findings from our 2025 Homebuyer Report, which sheds light on how every generation, but especially Millennials and Gen Z, are navigating homeownership in an era of high prices and higher interest rates.
Check out the conversation below and keep reading for top takeaways.
1. The American dream feels out of reach for younger buyers
Winchell explained that the survey results show three consistent themes:
- The younger the buyer, the riskier homeownership feels
- Stress levels around buying and owning a home are rising
- The process is more surprising and confusing than expected
These challenges add up to what Winchell calls a fraying of the “social contract” around homeownership—the long-standing idea that working hard and buying a home is a key part of the American dream.
2. Why refinancing may not be the safety net buyers expect
Many younger buyers believe they can buy now and refinance later when rates drop. But as Winchell pointed out, the math often doesn’t work out:
“If you’re saving $200 a month but paying $10,000 in closing costs, refinancing often isn’t practical.”
High closing costs, recurring fees, and unpredictable rate movements make refinancing a risky strategy rather than a guaranteed solution.
3. Affordability stress is everywhere
Even though today’s mortgage rates are historically moderate, buyers accustomed to the ultra-low rates of the past decade see them as high. Coupled with limited inventory and rising home prices, this has created an intensely competitive—and stressful—environment.
Winchell noted that loan officers report “hand-fighting for access to inventory,” underscoring the pressure both buyers and lenders are facing.
4. Why trusted advisors matter more than ever
Despite the rise of digital tools, Winchell emphasized that first-time buyers benefit from working with trusted professionals:
“It’s a very expensive and very complicated process to buy your first home. Working with a loan officer or real estate broker you trust is essential to making the right long-term decisions.”
5. The need for a simpler, more affordable process
It's time for innovation in mortgage technology. Simplifying the process, reducing costs, and modernizing credit and income verification are critical steps toward helping the next generation of buyers achieve homeownership.
Explore the full report
The 2025 Recent Homebuyer Report goes deeper into buyer sentiment, lender insights, and recommendations.
👉 Read the 2025 Recent Homebuyer Report
Ready to learn more?
Run your VOIE process on our platform, and we’ll use multiple verification methods in an agile fashion to maximize that completion rate every time. If you want to learn more, reach out to us and let’s talk!
