MADISON, N.J., Aug. 20, 2014 /PRNewswire/ -- CENTURY 21 Real Estate, the iconic brand and franchisor of the world's largest residential real estate sales organization, today announced the results of the CENTURY 21 ® commissioned "Singles Homebuyer Survey." Among the key findings was that for three-quarters (75%) of single homeowners aged 25-50, becoming a homeowner was at least fairly important with almost half (45%) of single homeowners saying it was "very important" for them to become a homeowner. Single homeowners said the top three factors that best described their motivation for purchasing a home were: they viewed it as an investment in their financial future; got tired of paying rent; and it felt like the right time. In addition, nearly two-thirds of single homeowners (64%) say they overcame a roadblock in order to purchase their home.
"We are in the midst of a shift in the home-buying population," said Rick Davidson, president and chief executive officer of Century 21 Real Estate LLC. "This survey shows that homeownership is a major life decision for singles, and that it is just as important a part of the American Dream for singles as it is for married couples."
According to the National Association of REALTORS®, nearly one-third (32 percent) of all real estate purchases in 2013 were made by a single homebuyer – and one-person households were up from 17 percent in 1970 to 27 percent in 2013. Not only are people getting married at an older age than previous generations, they are more apt to live by themselves, as shown by data from the U.S. Census Bureau.
"Real change, innovation and market growth stems from understanding consumers' drive, motivation and sentiment, and how these can shift from person to person," added Davidson. "Knowing this, CENTURY 21 affiliated sales professionals are able to build customizable action plans that better meet the needs of today's buyers, sellers and investors."