According to a recent Bank of America Institute survey, more Gen Zers are getting help from outside the Bank of Mom and Dad, which has long been a mainstay in the finances of young adults.

“Despite financial hurdles, the dream of homeownership remains a powerful motivator for Gen Z and Millennials, who are making sacrifices in the present to prioritize the long-term financial security a home can provide,” BofA’s annual Homebuyer Insights Report said.

It found that 30% of Gen Z homeowners paid for their down payment by taking on an extra job, up from 28% in 2024 and 24% in 2023.

The survey also revealed a sharp increase in another financial resource: 22% of Gen Z homeowners bought their home with siblings, surging from 12% in 2024 and just 4% in 2023.

That tracks similar data about co-ownership. According to a 2024 survey by JW Surety Bonds, nearly 15% of all Americans have co-purchased a home with a person other than their romantic partner.

But Americans seem to prefer staying within the family. A Redfin study last year found that more than a third of millennials and Gen Zers who are planning to buy a home expect their parents or family to help with their down payment. 

According to BofA’s recent report, 21% of prospective Gen Z buyers said they plan to rely on family loans for a down payment, compared to 15% of survey respondents overall.

“Even with the challenges they face, younger generations still understand the long-term value owning a home offers them and many are doing what it takes to get there,” Matt Vernon, BofA’s head of consumer lending, said in the report, which came out May 28. “They are finding creative ways to afford down payments and working hard to improve their financial futures.”

That’s as the homeownership rate for Americans younger than 35 dipped to just 36.3% in the fourth quarter of 2024, the lowest since early 2019, though it edged up to 36.% in the first quarter of 2025, according to data from the U.S. Census Bureau.

Meanwhile, the BofA study found that among survey respondents overall, the housing market—which has largely remained frozen by high mortgage rates and home prices—is a puzzle.

Sixty percent of current homeowners and prospective buyers said they can’t tell whether it’s a good time to buy a home or not, versus 57% last year and 48% in 2023.

Still, a larger share of prospective buyers think the market is better now than a year ago and are holding off on buying as they expect mortgage rates and home prices to fall later.

“They may be waiting for the right moment, but they’re not standing still,” Vernon said. “They’re building credit, saving for down payments, and paying attention to the market so they can buy when the time is right for them.”

In fact, a key tipping point in the housing market is coming into view as momentum shifts more firmly in favor of buyers over sellers.

Home-sale prices in 11 of the 50 biggest U.S. metro areas are already falling, according to data from Redfin, ahead of a broader decline later this year.

Redfin sees the median U.S. sale price going flat in the third quarter on an annual basis, then falling 1% year over year by the fourth quarter.

That follows a similar forecast from Zillow in April, when it predicted home values will fall 1.9% this year after previously anticipating a 0.6% increase. 

“The combination of rising available listings and elevated mortgage rates is signaling potential price drops by year’s end,” Zillow researchers wrote. “With increased supply, buyers are gaining more options and time to decide, while sellers are cutting prices at record levels to attract bids.”