The majority of consumers (70 percent) believe homeownership is part of their personal American Dream, according to real estate website Trulia.com’s biannual American Dream survey.

The survey also found that slightly more than three-quarters of homeowners believe their home was the best investment they ever made. However, 20 percent "feel trapped" in their underwater homes and 14 percent would walk away from their homes if they could.

"Contrary to popular belief, the American Dream of homeownership has not turned into an American nightmare," said Pete Flint, CEO of Trulia. "In fact, we’re seeing a national resurgence of buyer and seller activity on Trulia.com."

More than one-quarter of the nation’s young adults (Millennials) said their views on owning a home have become more positive over the past six months, according to the survey. Nearly 90 percent of 18 to 34-year-old renters aspire to be homeowners.

"During the housing bubble, the American Dream of homeownership was beyond reach for many young adults," said Tara-Nicholle Nelson, consumer educator for Trulia. Stuck with student loans and entry-level jobs, many had resigned themselves to being lifelong renters. But the tide is changing – Millennials are now today’s most serious homebuyers. Unjaded and largely untouched by the effects of the housing crash, this new generation of buyers will no doubt lead America from its current housing slump towards true recovery."