Single-person households are a growing demographic in real estate, account for 28% of all households—or 35 million homes in the U.S. But the current housing stock is inadequate to meet their needs, a new article at BUILDER reports.
In 2017, more than 120 million Americans—48% of adults 18 and older—were divorced, widowed, or had never been married, U.S. Census Bureau data shows. That’s up from 39 million, or 29% of adults, in 1970.
Married couples have traditionally dominated the housing market. They accounted for 63% of recent buyers, according to the National Association of REALTORS®’ 2018 Profile of Home Buyers and Sellers. But a growing number of single-person households can’t be ignored, economists say.
Read the story here: Are Builders Ignoring Single-Person Households?