Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households.
Why Is Homeownership So Important to Women?
The rise in women pursuing homeownership hasn’t just made an impact on the housing market. It’s also been an asset for those buyers and their households. That’s because homeownership has many benefits, both financial and personal.
On the financial side, housing proves to be the key to building wealth for single women. Ksenia Potapov, Economist at First American, says:
“For single women, housing has always made up a large share of total assets. Over the last 30 years, the average single woman’s wealth has increased 88% on an inflation-adjusted basis, from just over $142,000 in 1989 to $267,000 in 2019, and housing has remained the single largest component of their wealth.”
The financial security and independence homeownership provides can be life changing, too. And when you factor in the personal motivations behind buying a home, that impact becomes even clearer.
A recent report from the National Association of Realtors (NAR) shares the top reasons single women are buying a home right now (see chart below):
Bottom Line
Homeownership can be life changing no matter who you are. Let’s connect today to talk about your goals in the housing market.
A Trusted Real Estate Advisor Provides Expert Advice
With their expertise, a real estate advisor can anticipate what could happen next and work with you to put together a solid plan.
Why You May Want To Start Your Home Search Today
Inventory growth this year is certainly good news for you, especially if you’ve had trouble finding a home that meets your needs.
3 Tips for Buying a Home Today
No matter where you’re at in your homeownership journey, the best way to make sure you’re set up for success is to work with a real estate professional.
What Does the Rest of the Year Hold for Home Prices?
Despite what you’ve heard, experts say home prices won’t fall in most markets. They’ll just appreciate more moderately.
Is the Shifting Market a Challenge or an Opportunity for Homebuyers?
Today, data shows buyer demand is moderating in the wake of higher mortgage rates.
Why It’s Still a Sellers’ Market
While buyer demand is softening due to higher mortgage rates, homes that are priced right are still selling fast. That means your window of opportunity to list your house hasn’t closed.