Changing American demographics and social norms are altering the real estate landscape: the average home buyer is very different compared with buyers of generations past. The biggest group of home buyers by far is still married couples, accounting for 61 percent of all homes bought, according to the National Association of Realtors. But single women now purchase 22 percent of all homes. Single men accounted for only 9 percent of purchases.

The generous assortment of mortgage loans has also helped another emerging demographic: minority homeowners, who now account for 30 percent of all homes bought. During the 10 years through 2005, homeownership among African Americans grew from 44 percent to 48 percent, according to Vredevoogd. Among Hispanics it grew from 43 percent to 49 percent and among Asians, from 51 percent to 60 percent. All these groups made significant progress toward achieving the level of homeownership of 72 percent that the nation as a whole enjoys. One rising group of homeowners who require little, if any, assistance consists of buyers from abroad. Just as more Americans are buying vacation homes in foreign countries, so are deep-pocketed foreigners buying second homes here. Plus, overseas buyers of Delray Beach FL homes made billions of dollars worth of residential real estate purchases in the United States during 2005.

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