Social trends are impacting the way real estate developers develop and home builders build. Recent demographic trends point to more women working and not having children according to the (Demographics of the U.S.: Trends and Projections), and convenience designs like Smart Kitchen appliances, larger closets, and built-in desk areas are becoming more attractive than just more bedrooms. This paradigm shift has not happened overnight either as evidenced by the research below...
Research shows that women in the United States spend less of their time married, from about 70% to 50%, among age cohorts ranging from Depression Era women to mid Baby Boom era females. Looking at women’s finances separately from men is a fact that is increasingly necessary when targeting them as a demographic.
The number of births in the U.S. peaked in 2007 at 4.3 million. Since then, births
have fallen in nearly every year and have been stuck below 4 million since 2009. Fertility rates are at a record low for women under age 30, with Hispanic fertility falling the most.
Between these two trends--each of which profoundly impact the entire housing market and associated businesses that pertain to the very nature of household composition. This is a critical time to pay close attention to the evolution of how households work to improve the relationship between the organization and consumer base.
(Source: builderonline.com)
How much do you know about the people who are buying homes and how that dynamic has changed? It is equally as important to follow new demographic trends when it comes to real estate marketing. Read about 5 characteristics of a Texas homebuyer in our article here.
