Single and Buying a Home

by Rob Wicker

According to Advertising Age, never married singles age 25-34 now outnumber married couples in the same age group. This is a dramatic reversal from 20 years ago when marriages held a 20 point edge. The data comes from the US Census.

Marketers are taking note because singles often have more disposable income than married people do. This translates into home sales too. For example, single women accounted for 20% of all homebuyers in 2010, according to the NAR.

Some real estate companies are reaching out to this demographic. Advertising Age quotes Michael Fisher, the CMO for Coldwell Banker, “You can’t ignore the single buyer because they make up such a big portion of our target market.” Coldwell Banker touts video as a good way to communicate with singles.

Real estate magazines are also a good way to target young singles. Magazine readership remains strong among all age groups, and Americans 18-34 are even bigger consumers of magazines than those consumers 35 and older.

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Filed under Industry Articles and Trends

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