The real-estate market has typically been dominated by homes designed for and sold to families. But with a growing number of households consisting of people living alone or with roommates, changing demographics mean buyers with different standards, requirements, and preferences. According to a report from John Burns Real Estate Consulting, there are 39.2 million American non-family households and the real-estate community needs to embrace this emerging demographic. According to their report, these households want homes under 2,500 square feet, as opposed to the larger homes families typical desire. They also prefer homes with no more than three bedrooms and want to be closer to work and entertainment. More here.
Filed under: Housing Market
