Throughout Women’s History Month, we reflect on their impact on our lives, including the impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, making up 17% of all households.
Why Is Homeownership So Important?
The rise in women pursuing homeownership impacts the housing market. It’s an asset for buyers and their households. That’s because homeownership has many benefits, both financial and personal.
Building Wealth
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.”
Financial Security for Women
The financial security and independence of homeownership can be life-changing, too. And when you factor in the personal motivations behind buying a home, that impact becomes even more apparent.
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):
Key Takeaway
Homeownership can be life-changing, no matter who you are. Let’s connect today to talk about your goals in the housing market.
Other educational articles about the market and your home search are under Karen’s Blog.
