References
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Single Home Buyer Statistics
According to the 2021 NAR Profile of Home Buyers and Sellers
- First time single buyers are more likely to be females
- Single female buyers made up 20% of 2020 first-time home buyers
- Single male buyers made up 11% of 2020 first-time home buyers
- Single female buyers averaged 51 in age (34 for first-time buyers and 60 for repeat buyers), and single male buyers averaged 45 in age (31 for first-time buyers and 58 for repeat buyers) (Ex. 1-18, 1-21).
For more statistics on single home buyers, including reasons for purchasing a home, average income, desired type of home and neighborhood, see the National Association of REALTORS® 2021 NAR Profile of Home Buyers and Sellers
Single Buyer Demographics
Single Women: Skip the Spouse, Buy the House? (REALTOR® Magazine, Jan. 24, 2022)
A growing number of single women are moving ahead with a real estate purchase. More than two-thirds of single women recently surveyed said they’d rather not wait until marriage to purchase a home, according to a Bank of America survey that suggested more single females are “skipping the spouse ahead of the house.” Eighty-seven percent of single women agreed that it’s an “outdated idea” that someone must be married to purchase a home. Once they have the finances in place, single females surveyed say, they won’t hesitate to buy on their own.
Single Women Buyers Outpace Men, but Not Without Sacrifices (Economists” Outlook, Dec. 8, 2021)
When women do purchase homes, they are likely to purchase homes that are at a lower price point than single men buyers. Men typically purchased homes that were $249,000 last year, compared to women who purchased homes that were $230,000.
How Single Women are Changing the Real Estate Market (Live With Plum, Feb. 16, 2021)
But buying your own home frees you up from having to compromise. If you’re a single woman, this also frees you up from having to compromise with a partner or roommate on the things they want that you may not want. You can do what you want and decorate your space how you want or incorporate the things you want and make your space your own.
The Best Cities for Buying a House as a Single Woman (DeedClaim, Apr. 21, 2021)
Interestingly, a high concentration of mid-Atlantic and midwestern cities earned top spots in the city rankings. On the other hand, many Southern and Western cities did not make the top of the list, though Portland, OR, Spokane, WA, and Atlanta, GA all squeezed into the top 20.
Single Home Buyer Tastes
15 Home Features Today's Buyers Want Most (Kiplinger, Aug. 2, 2021)
More than anything else, homeowners want a dedicated laundry room where they can hide the dirty clothes and stack the clean ones until they get put away. A separate laundry room tops the National Association of Home Builders' (NAHB) list of most-wanted home features by buyers.
Gen Z and Millennials are Prioritizing Environmental Sustainability in Real Estate (Northco, Feb. 24, 2021)
Eco-friendly measures also extend to creating more outdoor spaces and landscape design with indigenous plants, helping to create natural infrastructure that prevents soil erosion, filters stormwater runoff, reduces noise pollution, and naturally cools better than cement or asphalt.
Selling Homes To Gen Z: What You Should Know (Quicken Loans, Jan. 28, 2021)
The youngest of home buyers, Gen Zers don’t typically need large homes to hold a family of multiple kids. As they may be just starting families – or not even at that stage yet – and with affordability in mind, most Gen Zers are interested in smaller homes. They also prefer to live within close proximity to work and to friends and family.
Advice for Single Buyers
How To Become Head of a Household: Homebuying and Mortgage Guide for Singles (realtor.com®, Jan. 10, 2022)
Consider how much space you need as a single homeowner without a partner or children. “Look for smaller houses with one or two bedrooms and one bathroom,” advises Martin Orefice, CEO of Rent To Own Labs. “You’ll end up with a much lower mortgage that way.” Having a more manageable space will also reduce all your costs and bills.
How to Buy a House as a Single Woman (LendingTree, Oct. 4, 2021)
When buying a house as a single woman, be sure to get a prequalification or preapproval letter from your lender. Taking this step will give you a couple of advantages when home shopping. First, it shows your real estate agent and sellers that you’re a serious buyer and that financing won’t be an issue. Plus, you’ll be poised to jump on properties quickly in a hot market.
Is Buying A House Worth It If You're Single? (Empower Real Estate, May 17, 2021)
Buying a house when you’re single can be a smart investment if you think through the decision and make sure you’re choosing a home that will work for you for at least a few years.
eBooks & Other Resources
eBooks.realtor.org
The following eBooks and digital audiobooks are available to NAR members:
The Everything Homebuying Book (eBook)
Home Buying Kit for Dummies (eBook)
Kiplinger’s Money Smart Women (Audiobook)
Buying a Home When You're Single (eBook)
Financing Your Condo, Co-Op, or Townhouse (eBook)
Home Buyer's Checklist: Everything You Need to Know—But Forget to Ask—Before You Buy a Home (eBook)
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