Childless buyers are changing the real estate market

In 2015 more than 70% of households had no children living there, according to the U.S. Census Bureau

Miami /
Sep.September 14, 2017 04:00 PM

The single-family real estate market is experiencing a shift as more adults choose to not have kids, and the effects are numerous. Wanting a smaller space is part of the trend, and so too is a change in desirable home destinations, according to The Washington Post.

People without children tend to prefer urban areas, according to the 2016 Profile of Home Buyers and Sellers. Childless buyers said factors like convenience to friends, family, shopping and entertainment, swayed their neighborhood choice.

The trend can mean an uptick in demand for townhouses and condos in urban areas. Hand-in-hand, the increased costs of construction and land shortages point to a desire to build tall and not necessarily large.

“In certain markets where you’re going to have an increase in the number of childless households, that does mean that maybe townhouse construction is a greater option than, say, homes that are approximately 3,000-square-foot, single-family detached,” Robert Dietz, chief economist at the National Association of Home Builders, told the Post. Dietz adds people generally look for 800 square feet of home per person in the household.

In 2015 more than 70 percent of households had no children living there, up from 68 percent in 2011, according to the U.S. Census Bureau’s American Housing Survey. Fertility rates in the United States are also low, according to the Centers for Disease Control and Prevention. Data shows the fertility rate last year was 62 births per 1,000 women ages 15 to 44. [WaPo]Amanda Rabines 


Related Articles

arrow_forward_ios
AIMCO founder Terry Considine and a rendering of the Grand Flamingo tower
Miami Beach board rejects Aimco’s proposal for Grand Flamingo tower
Miami Beach board rejects Aimco’s proposal for Grand Flamingo tower
Aventura Mayor Enid Weisman (Facebook via Weisman, Getty)
Aventura votes to require HOAs to submit critical reports within 48 hours
Aventura votes to require HOAs to submit critical reports within 48 hours
The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
Miami Beach seeks buyers for city-owned development sites
Miami Beach seeks buyers for city-owned development sites
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...