More prospective home buyers are moving ahead with purchases even as prices and interest rates remain high, according to a report by Bank of America.

Sixty-two percent are willing to wait for prices and/or rates to fall before buying a home, down from 85% just six months ago, BofA said.

More than half (53%) of the respondents in the Homebuyer Insights Report defined homeownership as financial success, followed by saving enough money for an emergency fund (50%), paying down debt (45%) and being able to retire early (43%).

“When it comes down to it, if buying a home is your goal and within your budget, the best time to buy is when you’re ready financially and you can find a home that fits your needs,” Matt Vernon, head of consumer lending at Bank of America, said in a statement. “Even in the current interest rate environment, there are clear benefits to purchasing a home and beginning to build equity.”

The report pointed out that about 80% of outstanding U.S. mortgages are at an interest rate below 5%, which gives homeowners an incentive to stay put. The average 30-year fixed mortgage rate was 8% in October.

But 50% of homeowners said they would be willing to forego the low rate if  their dream home became available and/or if they found a more affordable area (54%). Others would be motivated to sell for a job opportunity or job relocation (40%), nicer neighborhood amenities (40%), a larger home or more rooms (38%) and a social community (32%).

The report also noted that millions of people are moving to areas, including the Sun Belt, where homes are more affordable. Sixty percent of those surveyed cited costs of living as a motivational factor to move from one state to the other. Other factors included career reasons (44%), family and relationships (37%), affordability of housing (33%), safety concerns (27%), retirement (25%) and adventure and exploration (20%).

Prospective buyers are willing to sacrifice certain home features and amenities to secure a home in the year ahead. For example, Gen Z (15%) is less likely to give up space than baby boomers (40%). However, 24% of Gen Z would compromise on location, including proximity to work, schools, and amenities than baby boomers (6%), the report noted.