HousingWire
As American demographics shift, so do the priorities of home buyers, and pets are playing an increased role in real estate decisions.
"Did you know there are more households with pets than children?" Jessica Lautz, deputy chief economist and vice president of research at the National Association of REALTORS® (NAR), wrote in a recent blog post. "And these beloved pets are a driver of economic activity, namely, homebuying."
The trend is reflected even more starkly in homebuying statistics. In 1985, 58% of homebuyers had children under 18 in the home. In 2024, that figure plummeted to 27% — the lowest on record, Lautz said.
"Birth rates, overall, have been declining, and a large share of baby boomer households have already seen their children leave the nest," she added.
These shifts are changing how people choose their homes. Among recent homebuyers, about one in five considered their pet when selecting a neighborhood. Lautz said that number rises to 24% among unmarried couples, compared to 17% of single women, 15% of married couples and 12% of single men.