Are you aware that living alone is the new norm? A recent Time Magazine article written by Eric Klinenberg, author of Going Solo reports some new facts from recent Census data that could impact real estate in new and different ways. Today, the number of people who live alone in America, either by choice or not by choice, is now nearly 33 million people. Yes, 33,000,000 million people! Not as much as the mega lottery value, but cetainly a large number of our US population. The article reports these people now make up 28% of all households. Klinenberg further states these numbers mean solo living is now tied with the next most dominant resident group of childless couples. Both categories now surpass the number of nuclear family or multigenerational households.
The author believes his research demonstrates this is not a transitional living situation. It appears to him to be a new lifestyle with concentration in larger metropolitan areas. Without going into the black hole of whether this is a positive trend, my interest is how this is or could impact our local real estate markets and mortgage financing in the coming years. The author sees the trend as positive. I see issues for builders, mortgage financing and even shifts in the preference of homeownership over renting. This could be generational trend or something truly new on the horizon for real estate and our recovering housing sector.
Given our Santa Fe real estate market is more a destination market, it is difficult to get a pulse on the reality of this trend and real estate.We do not have a category in our MLS for solo buyers... yet.And I am not sure NAR has stats on this potentially new lifestyle which will impact housing as people change preferences. Are you helping more solo buyers in your local market?What if anything do you see happening in your local market?
The Santa Fe real estate market is a local one. Real estate news reports and trends in other communities does not apply here. Search all current properties here with a fast and easy list or map search. If you are thinking about selling your home or considering a lifestyle change in relocating to Santa Fe, I suggest you give me a call at 505-660-4541 to schedule a real estate consultation. No one has time or money to waste in this new landscape of real estate. I am available to help you and make a positive difference in your real estate experience. Remember, dreams can be made a reality when you act on them. Emily Medvec
Today, I work with buyers and represent sellers in all price ranges in Santa Fe and throughout northern New Mexico. My focus is to use my experience, vision and strategies to find you opportunities and solutions. My goal is always to save you time and money whether you are buying or selling any form of Santa Fe real estate, including homes, land, town homes, condominiums, ranches and commercial property.
Emily Medvec Copyright 2012 All Rights Reserved 2007-2012