The numbers don’t lie. Women are buying more houses than men and dominating the real estate market.
Let’s hear if for all the single ladies! Single women are a force to be reckoned with in today’s real estate market. According to the National Association of Realtors®, single women make up the largest demographic of home buyers after married couples, purchasing 60% more homes than single men this year.
A variety of factors are contributing to women’s rise in real estate. Most notably, women’s wages have been on the rise as the pay gap gradually decreases, leading to increased financial independence and security. The trend of women in real estate is expected to continue as their numbers and wages continue to increase.
Even though millennial activity is growing, baby boomers are still the largest group of homebuyers. Female baby boomers in particular are dominating the real estate market, with twice as many home purchases as their male counterparts. Single women account for one out of every five home sales in their age cohort.
Being the wealthiest generation doesn’t hurt either. Baby boomers are poised to inherit around $13 trillion over the next 20 years and most are intending to invest some of that money into real estate. 70% of baby boomers don’t think their current home is the best or their last.
Most baby boomers live in the suburbs with large houses on large lots. Women in this demographic have money to spend, but they know their budget. They are often considering more than just themselves in their home purchase, preferring space for entertaining and family gatherings. This slice of customer will not shy away from affordable luxury.
Millennials are starting to make their own way in real estate as well. This demographic tends to favor smaller spaces and higher density areas, near work and social centers. Women in this age range are delaying marriage, if they marry at all, and are generally highly educated, commanding high salaries.
Housing demand for single, female millennials will likely increase along with their salaries. These individuals don’t usually share their parent’s taste for mega homes. Instead, millennials favor unique, stylish, and practical homes, sacrificing size for luxury details. Location is by far the driving factor for this demographic as they prefer walkable neighborhoods and community amenities.
We can expect an increase of market share for women of all ages and the potential for them to start shaping the marketplace. Women are concerned with features such as secure and easy parking, home and neighborhood security, safety, and affordability, in addition to typical home features.
Women are increasing in power, wealth, and market share, and making smart real estate investments!
The fairer sex seems to be thriftier and more frugal. They are usually good savers and they do not fuss over their investment.While men look for different investment options and often complicate things by putting money in newer tools. women generally go for conventional ways to invest which are less risky and apparently simpler to have an understanding of. That is why I think, women buy more houses than men.
Well this is news to me, I did not expect single women to outrank single men. I wonder how is the picture if only the younger categories (Millennials) are counted.
Women have been breaking through the car market as well, the latest trends in car manufacturers marketing strategies is to target specifically women and even build for-women-only cars (the Mini being a good example). I wouldn’t be surprised to find the same thinking in the real-estate segment. Women are also better consumers (all marketing studies concur) and regardless of earnings, most shopping decisions are made by women.
I could see this being very true. I feel men aren’t as worried about being “Settled”. Though I could be very wrong in some cases! I feel women like to own a home asap because it gives us a sense of security.
The title is eye-popping although not quite surprising. Women are more conservative when it comes to investment and real estate is certainly one of the stable investments they can get themselves into. The fact that they can invest in a high value medium such as real estate is a testimony to the earning power of today’s women. I have no doubt that women’s preferences will influence the types of homes and communities that will be developed in the future.
This is really impressive, it actualy is something I had no idea about, however ,it’s good to know that most women think about buying their own stuff instead of letting their man do it for them, it surely is a great thing to know, thanks for sharing it.
Single women who have responsibility are good with money. I’ve heard of illiterate, shy but determined women who sent their children to college on the income from aa home laundry service. I had a friend whose mother was only 16 when she was born, never married or finished high school yet bought her first house at the age of 21, in 1952 no less! I am not surprised that more women buy houses than men.
I must admit that women is more capable of handling money than men. We tend to spend carelessly as a result we don’t have any investment made. I’m impressed on the budgetting skills of women. They value money more than men.