More homebuyers are single, female and childless

Young couples purchasing their first home are not the average homebuyer these days, according to a recent report.

In fact, nearly half of all homebuyers in 2017 were female, a significant increase over the last 36 years. The share of single women homebuyers is at an all-time high, hitting 18.9 percent in 2017, an increase of 9.8 percent from 1981, according to Veritas Urbis Economics, who analyzed census data from 1981 to 2017. The report theorizes that due to improved education and work opportunities, women have been able to take a stronger hold on the housing industry. In 2017, 25.1 percent of women had at least a bachelor’s degree, compared to 11.1 percent in 1981. Additionally, 42.5 percent of the workforce is comprised by women, compared to 35.3 percent in 1981. Women are now more likely to have the education and means to purchase their own homes.

Another reason females may be buying more homes is that they are getting married and having children later, or not at all. According to the report, only 40.7 percent of homes had children in 2017, down 10.4 percent from 1981. Single households have increased to 21.2 percent from 15.3 percent in 1981. Single homebuyers increased 38.4 percent.

And it’s not just millennials hitting the housing market. Baby boomers, those older than 55, represented 27.8 percent of homebuyers in 2017, up from 11.7 percent of that age bracket in 1981, while millennials represented 33.7 percent in 2017, down from 52 percent of that age bracket in 1981. The share of baby boomers buying grew 72.7 percent, compared to 1981 of that age bracket.  The 35-54 year old demographic, also known as Generation X, makes up the largest percentage of homebuyers, increasing by 20.5 percent since 1981.