Homeownership is a High Priority for Women

In today's housing industry, many are speculating who will emerge as the next big group of homebuyers. While it's estimated that 75 million future Millennial homebuyers will enter the market in the near future, a promising group of buyers is currently making homeownership a high priority. One-in-five homeowners are single females, making them the second-largest home buying demographic after married couples. According to the National Association of Realtors (NAR), single women are buying homes at nearly twice the frequency as single men. Outpacing single men, they constitute 23 percent of first-time buyers and 16 percent of all repeat buyers.

First-Time Homebuyers:

Single Women 23% Single Men 15%

Repeat Homebuyers:

Single Women 16% Single Men 8%

Breadwinner roles are shifting as more women are becoming the primary earners in their households, according to a Pew Research Center study. Women also carry an average of 22% less credit card debt than men; helping their debt-to-income ratios when qualifying for a mortgage. Demographic changes and fair housing and credit legislation are helping to fuel the trend. As single women are carving out a prominent place in today's market, it's important to consider tailoring marketing and homebuyer education towards this growing clientele.

If you have questions about any aspect of homeownership, contact us!