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Single Buyers to Impact Housing Market

October 15th, 2014 11:40 AM by Ron Mastrodonato

WASHINGTON – Oct. 14, 2014 – Half of all American adults now live in one-person households – a rapidly growing number, according to the Bureau of Labor Statistics. The singles demographic is likely to reshape multifamily communities and single-family home designs going forward, according to Builder Online.

In 1976, only 37 percent of adults were single. As of August, that percentage has bloomed to 50.2 percent, or about 124.6 million singles. It marks the first time that single Americans make up the majority of the adult population since the government began tracking such data.

"Thanks to the growth of single-adult households, floor plans will go from static to flexible, as living arrangements change more frequently," says Susan Yashinsky, vice president of innovation trends for Mich.-based Sphere Trending. "Analysts project that this group of adults will job hop more often, bring new types of living arrangements into the housing market (think friends buying homes together), and expect their environments to adapt to their frequently changing lifestyles as easily as picking a favorite Keurig coffee flavor."

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Posted by Ron Mastrodonato on October 15th, 2014 11:40 AM


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