US Homeowners Adapt to Housing Market, Willing to Accept Higher Mortgage Rates
A recent survey indicates a growing segment of U.S. homeowners are adapting to higher borrowing costs, with 47% stating they would accept a mortgage rate of up to 6% for their next home purchase. This sentiment marks a shift from earlier periods, suggesting a slow adjustment to elevated rates. Concurrently, homeowners anticipate a softer housing market with cautious expectations for home price changes over the next year.
The latest TurboHome-ResiClub Housing Sentiment Survey for Q2 2026, conducted between April 21 and May 21, involved 430 U.S. adults and reveals evolving consumer attitudes toward the housing market. The survey, a collaboration between ResiClub and TurboHome, aimed to track perspectives on home prices, mortgage rates, agent commissions, and affordability over time.
Affordability pressures continue to impact buyer and seller mobility. Approximately 20% of respondents cited elevated mortgage rates or high home prices as primary reasons for not moving, while about 10% of homeowners noted their current mortgage rate is too low to relinquish. Despite these hurdles, a third of homeowners indicated they would be more likely to buy a home if mortgage rates fell below the 6% threshold, highlighting its psychological significance.
Homeowners are showing increased tolerance for higher mortgage rates. The percentage of homeowners willing to accept a rate up to 6% for their next purchase rose from 41% in Q1 2025 to 52% in Q3 2025, settling at 47% in Q2 2026. Acceptance for rates up to 5.5% also increased, from 54% in Q1 2025 to 63% in Q2 2026. Expectations for 30-year fixed mortgage rates in 12 months show 50% of homeowners foresee them between 6% and 7%, while 41% expect them to be below 6%.
Regarding home prices, homeowners are generally cautious, with bearish sentiment easing slightly since late 2025. In Q2 2026, 44% of homeowners expected prices to stay flat or decline, compared to 55% in Q3 2025. Only 14% of respondents in Q2 2026 anticipated a price decline of 4% or more over the next year. Nationally, 45% of all U.S. adults expect prices to remain flat or decrease.
Consumers are increasingly open to technology in the homebuying process. The survey found that 77% of homeowners located their most recent home themselves, and 85% would prefer an agent who uses technology to reduce costs if service quality is maintained or improved. Furthermore, 56% would consider working with a lower-fee brokerage.
While 71% of homeowners found their last real estate agent's services valuable, over two-thirds nationally believe traditional real estate commissions, typically 5% to 6% of a home's sale price, are too high. Service and communication quality remains the top factor (62.5%) when choosing an agent, though 26.3% prioritize the lowest commission or fee. Among prospective buyers, 34% prefer a commission between 2% and 2.99% for buyer's agents, with 23% favoring a flat fee structure.
According to Fast Company, these findings suggest Americans are slowly adjusting to a housing market characterized by elevated mortgage rates, softening price expectations, and persistent affordability challenges, alongside an increasing openness to technology-enabled real estate models.
