Working With Single Home Buyers

Quick Takeaways

  • More women than men own homes, despite the wage gap
  • More women than men have a college degree, with higher wages and the financial ability to buy a home
  • Owning a home lets you build equity

Source: Single Women are Racing Ahead of Men in Homeownership. Here's Why (CBS News, Feb. 2, 2023)

The NAR Profile of Home Buyers and Sellers says that single women make up 19% of home buyers, in contrast to single men who only make up 10%  pf home buyers.

Single women are more college educated than single men. This gives them greater home buyer power and allows them to breach the wage gap with men.  Among major cities, Philadelphia, Columbus and Memphis have high rates of single women homeowners.

Millennials are looking for specific amenities in their homes, such as laundry rooms, smart home features and walk-in pantries.  They also prize sustainable features in their homes.

The most important advice for single home buyers is to first decide what you can afford, factoring in your credit car and student debt. Obtaining a preapproved mortgage will make the home buying process easier and faster.

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