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More Singles Entering the Housing Market Again

According to data from the National Association of REALTORS®, individual homebuyers accounted for a quarter of all homes purchases in 2012. When comparing single men and single women buyers, single women doubled the rate of single men purchasing a home.

However, single homebuyers may face more challenges when buying a home compared to their coupled counterparts. Since the mortgage crisis, banks tightened their underwriting standards, making it more difficult for buyers without dual incomes to qualify for a loan.

From 2010 to 2012, home purchases made by singles declined 7 percent, which was an unprecedented number according to NAR. Ultra-low mortgage rates and high home affordability have drawn more singles back to home buying.

Jennifer De Vivo, a real estate professional in Orlando, Fla., stated that home buying is often a means of self-expression for singles, telling MSN Real Estate. "It's a way for singles to express their lifestyles and values,” De Vivo says. “They are able to focus on the exact communities, home styles, and features that cater to their individuality with much less compromise."

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