There’s good news for women who are considering buying a house in today’s housing market. Women have been buying homes in record-breaking numbers.
Because of these statistics, the housing market is prime for single women. More on these statistics can be found in the Joint Center for Housing Studies, which shows that:
- Over one out of every five homebuyers is a single female.
- Double the amount of single women are purchasing their own homes compared to single males.
- Single women are currently responsible for one-third of the real estate homeownership growth in the U.S. since 1994.
According to a report by the National Association of Realtors, single women buying homes are generally older than average US homebuyers. Typical ages are around 41, while the US average is 39. It is widely thought that this group could be the one to breathe new life into the slowly recovering United States housing market.
3 Reasons Single Women are Buying Homes
Today, more single women are purchasing their own homes than ever in history. It’s interesting to look at just what it is they want when they purchase a home.
- Today’s 2012 women carry a deep-rooted desire to own their own homes.
- Many are looking for larger homes to start a family, or smaller ones as children move out or after divorces.
- People, women specifically, are finally tired of commuting. They are looking to buy homes closer to where they work, go to school or to their families.
Single Women Home Buying Trends
Now that single women have become such a major force in the real estate market, it’s much easier to notice and track trends. Single women homebuyers are very confident. They know what they want, where they want it and how much they’re willing to spend to get it. Here are some of the current homebuyer trends with single women:
- 75 percent of women home buyers purchase homes under $200,000.
- Most would rather own homes that have two or more bedrooms.
- The chances of this group choosing a newly constructed home are slim.
- They prefer to own a home in the city, versus suburban neighborhoods
- Willing to take other sizes and pay more to get greater amenities.
- Refuse to compromise when it comes to location or the quality of the area.
- Would rather a condo with a great homeowner association over a single family home.
- Willing to deal with smaller home if this is what it takes to own their own home.
- Appreciate environments that encourage neighborly interaction.
- Seek to be close to prime shopping and fitness facilities.
Single Women May Be The Key
Although single women are a driving force in the US housing market, this has not always been the case. In 1995, this group only made up 14 percent of the nation’s homebuyers. However, since then, single ladies have moved ahead of single men in the real estate buying trend. Some say it’s due to more confidence in themselves. While others contribute it to them having more confidence in the housing market itself. Either way, single women are becoming a group that needs to be catered to when it comes to selling your home. Thanks to these trends, real estate marketing experts are sure to start considering single women an important new target market.
This article was provided by Pleasanton CA Realtor Vickie Nagy. If you’re a home buyer looking for a great place to purchase a luxury home, please visit Vickie’s website. You’ll have access to all homes including Blackhawk CA homes for sale, Livermore CA homes for sale, and Dublin CA homes for sale.