According to the 2012 census results, more and more Americans are opting to live by themselves. Whether a sign of economic times or a social trend of introversion, the growing rate of Americans who are choosing to go solo has an interesting impact on Jacksonville property sales.
Since 1970, the number of Americans who live by themselves has tripled. There are now approximately 33.2 million people who live alone—which means about one in every four households is occupied by just one person. While this is a large shift away from the traditional family-centric household, the growth of single person homes may actually benefit the Jacksonville housing market.
By increasing the number of people who live on their own, it becomes necessary to have more properties for the same amount of people. This leads to increased demand for homes, which is great for encouraging sales in a competitive market.
The growth of single-member households is prevalent across homeowners and renters.
There are many who’ve argued that the growth of single-occupancy homes was a result of booming economic times, but even in the past five years in the wake of the most recent recession the percentage of people opting to live on their own has steadily been on the rise. Since 2007, just before issues with the housing market intensely affected the economic stability of the American housing market, another 2 million American adults have moved into houses on their own with the raise of the active adult houses market.
The researchers who evaluated this lifestyle statistic commented that the increase of people who are living alone might be related to stage-of-life factors. For example, with more young people focusing on becoming stable in a career in light of high unemployment rates and difficulty securing a position, it is not uncommon for young people to put off starting a family. Researchers are monitoring the rate of individual living arrangements to find if the trend starts to decrease as years go on.