February 10, 2007
Real Estate:
Real Estate: Who's Buying Now?
Changing American demographics and social norms are altering the real estate landscape: the average home buyer is very different compared with buyers of generations past.
The biggest group of home buyers by far is still married couples, accounting for 61 percent of all homes bought, according to the National Association of Realtors. But single women now purchase 22 percent of all homes. Single men accounted for only 9 percent of purchases. According to Pat Vredevoogd Combs, the president of the National Association of Realtors, that shows real change. "Thirty-five years ago, when I started out as a realtor, a single woman couldn't even get a mortgage," she says. Part of the reason why women have become such a big buying bloc is that more women are single than ever before. The New York Times recently concluded, after an analysis of Census Bureau data, that 51 percent of all American adult women now live without a spouse.
Read more about the average home buyer now…
What do you think about the average home buyer as presented in the article? Perhaps you have observed the similar tendencies considering the real estate market nowadays. Share your experiences by clicking the comment link below.
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