Single Women a Rising Force in the Housing Market

Unmarried women continue to make up a growing segment of home buyers and are buying homes in record numbers: Last year, they composed 20 percent of all buyers last year, according to the National Association of REALTORS®. Single men accounted for 12 percent.

The Joint Center for Housing Studies says the three main reasons single women are purchasing homes are:

▪ They have a strong desire to nest (the top-ranked reason).
▪ They want to relocate closer to a job or family.
▪ They need more space.

In capturing this growing segment of female buyers, builders are reflecting more female tastes in the design of homes. For example, in new houses, builders are adding security features, gourmet kitchens, and maintenance-free yards to appeal more to the single woman buyer.

Housing experts say that single women are purchasing homes at various stages in their lives —some are new college grads and plan to one day get married while others may be divorced or just want to set up roots in their own place.

Source: “Singles Dive Into the Real Estate Market,” SecondAct/MSN (July 12, 2011)

Article Courtesy of REALTOR(R) Magazine