Single Women Buy Homes Differently Than Men, and More Of Them.

The debate between man and woman goes on.  For single adults, the property one might buy could very well come down to their gender.  It seems that single women are purchasing more homes today.

In July of 2013, Redfin reported an increasing number of single female homeowners.  Their data was compiled not only from their own Real Time Home Buyer report, but also from the National Association of Realtors, US News and World Report, and Loans.org.

Redfin’s July, 2013 Real Time Home Buyer report consisted of over 1,300 active buyers that participated in Redfin home tours.

According to the National Association of Realtors, single women have purchase almost double the amount of homes as single men for the last 2 decades.  With all the new capabilities of software, Redfin has been able to track and calculate the buying habits and behaviors of both genders as well as their differences.

54% of single women between the ages of 25 to 34 are likely to be searching for a home to purchase.  The common factor that became apparent was that women are more likely to purchase a home that connects emotionally with them.  They are more interested in purchasing something they love.

53% of single men in the same age bracket are looking to purchase, however, the main difference to the female mentality, was that men were more likely to purchase a short sale or foreclosure.  They are more likely to search for the bargain, or even the opportunity to invest.

Only 13% of single women looking to buy a home said they would consider purchasing a short sale or foreclosure, compared to 30% of single men looking for that value add opportunity.

Although a higher percentage of single women are looking to purchase between the ages of 25-34, only 21% of single women looking to buy a home were between the ages of 35-44.  Single men are actually the majority in the older age bracket, at 29%. 

In a climbing market with interest rates on the rise, Redfin also compared the difference in which sex was more likely to jump in now, or continue to wait. 

They revealed that 66% men stay more disciplined in a changing market compared to 54% of women.   Only 23% of single men would be likely to completely step back versus 30% of single women. 

Additionally, 12% of single men would jump into action quickly with rising interest rates and 16% of single women would do the same.

So, if you are selling a home, possible think about which characteristics can be communicated to potential buyers based on whether you wish to appeal to a female or male buyer.

http://www.pahroo.com/Single+Women+Buy+Homes+Differently+Than+Men%2c+and+More+Of+Them.