Love at First Listing: Navigating the Sweetheart Housing Market This Valentine's Day

Digging into the 2023 Profile of Home Buyers and Sellers data, we can unravel the makeup of households and how relationships play a role in shaping decisions when it comes to buying homes.

• In 2023, only 59% of recent home buyers were married couples, marking the lowest share since 2010. Nineteen percent were single females, 10% were single males, and 9% were unmarried couples.
• Three percent of recent buyers identified as gay or lesbian, and 2% identified as bisexual.
• Among first-time buyers, 52% were married couples. This is an increase from 2022 when 50% were married couples. In 2023, 63% of repeat buyers were married couples, a decrease from 2022 (65%).
• Among first-time buyers, 16% were unmarried couples, and among repeat buyers, 6% were unmarried couples.
• Among all home buyers, 79% purchased a detached single-family home, 8% purchased a townhouse/row house, and 4% purchased an apartment or condo.
• Eighty-three percent of married couples purchased a detached single-family home.
• In 2023, 84% of unmarried couples purchased a detached single-family home. This increased from 2022 when 80% of unmarried couples purchased a single-family home.
• Married couple buyers were typically 50 years old with a household income of $121,900. They typically purchased a home that was a median of 2,050 square feet.
• Unmarried couple buyers were typically 37 years old with a household income of $115,600. They typically purchased a home that was a median of 1,750 square feet.
• Single female buyers were typically 55 years old with a household income of $70,600. They typically purchased a home that was a median of 1,500 square feet.
• Single male buyers were typically 49 years old with a household income of $90,000. They typically purchased homes that were a median of 1,600 square feet.
• The most mentioned factor that could encourage a move was a life change, such as an addition to the family, marriage, or retirement.  This was true for married couples (37%), unmarried couples (48%), single females (47%), and single male buyers (45%).

For more information on how relationship status and household composition affect homeownership choices, check out the 2023 Profile of Home Buyers and Sellers.