America is a country that is constantly in flux especially with traditions, norms and values. The same can be said about the real estate market withing the United States, which is also changing. The average home buyer in Tacoma today is very different from ones of years past.
The largest segment of American home buyers continues to be married couples, who account for 61% of all home sales. The difference today is that another slice of the real estate demographic pie is growing rapidly: single women. Today, single women account for 22% of all home sales compared to 9% with men.
Much of the reasons for this shift in the real estate dynamic is because a majority of adult American women now live without a spouse. In addition, American women are more financially independent than ever, accounting for over half of all college graduates.
Many of these women are also benefitting from the large quantity of unique mortgage loans now widely available. These loans, often offering little to no money down and initial low interest rates, help recent graduates and divorcees purchase homes when they normally couldn’t afford it. These mortgage loans also help another budding segment of the real estate demographic: minorities. Click here for more about housing statistics.
Minorities now account for 30% of all homes bought. Increasing numbers of African Americans, Asians and Hispanics are now buying more homes than ever.