Feb 17

Couples Putting the House Before the Ring

Couples Putting the House Before the Ring

Is the declining number of marriages contributing to fewer first-time home buyers? In the 1980s, the number of married couples in the ranks of first-time buyers peaked at 75%. Flash forward to today, when only 53% of first-time buyers are married couples, according to data from the National Association of REALTORS®.

So who are the other buyers making up the housing market today? The share of unmarried couples purchasing their first home is now matching single females at 17%, the largest share recorded by NAR to date.

Also increasing is the share of “galentines” buying a home together, notes Jessica Lautz, NAR’s vice president of demographics and behavioral insights, at the association’s Economists’ Outlook blog. Galentines refers to platonic friendships, such as roommates. These buyers have made a notable jump, from 2% to 4% of the market in the last year, Lautz notes.

Unmarried couples and roommate buyers may have an advantage over single buyers helping them to increase their numbers: dual incomes. “Dual incomes allow them to navigate the housing market and perhaps allow them to purchase a home that is at a higher price point where they may face less competition in the buying market,” Lautz writes.

Still, 17% of recent first-time buyers are single females, although that share has dropped from a high of 27%. “This drop is likely due to housing affordability,” Lautz notes. “It is harder for a single-income individual to enter the competitive housing market the U.S. is facing today. Notably, while single men have traditionally had smaller shares of home buyers, the share of single men has now crept up to 10% of the first-time buyer market.”

Source:
“Galentines vs. Valentines Home Buyers,” National Association of REALTORS® Economists’ Outlook blog (Feb. 13, 2020)

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.