The Mortgage Reports
Indeed, a greater portion of single women are buying residences nowadays than years ago. Considering that women continue to make less than men, on average, that’s an impressive feat, although buying as a solo female has its risks and challenges.
A recent National Association of REALTORS® (NAR) survey found that the share of single women buying homes has nearly doubled in the last 40 years. That’s true even though their earnings typically remain lower than income for men.
Today, women represent one in five (20%) of all homebuyers – up from 11% in 1981. Plus, they comprise nearly a quarter of first-time home buyers. Among all home purchasers, 62% are married couples, 20% are single women, and eight percent are single men.
Interestingly, the share of single women who sold their homes slipped a bit last year to 18% versus 69% among the share of married couples.
Jessica Lautz, deputy chief economist and vice president of research for NAR, agrees [she isn't surprised by the findings].
"Single women prioritize homeownership," Lautz explains. "These women are determined to own their own home and will make financial sacrifices, including moving in with family or taking a second job, to save for a home."
Lautz adds that females want the financial stability and monetary gains that come with homeownership.
"As homeowners, women remove the unknowns from their living situation – such as whether the rent increases or they must move due to a landlord selling the property in which they reside."