Single Women: Why They Do Buy Real Estate.

Real Estate Agent with Nesbitt Realty at Condo Alexandria 0225-089134

According to  research economist Jessica Lautz, “More than one-third of all home buyers buy a home for the desire to own. This has been the most cited reason consistently for the last several years, but it is even more true of single female buyers. Nearly half of single female buyers purchase a home because they have a desire to own a home. The second most cited reason for single female buyers in choosing to purchase a home is a change in family situation—13 percent of single female buyers purchase for this reason, compared to 9 percent of all buyers.

“In comparison to other household types, single female buyers are more likely to have lived with parents, relatives or friends before buying their own residence, 20 percent compared to 12 percent of all buyers. Single female buyers are also more likely to rent an apartment or house before buying their own place compared to all buyers. Both previous living situations are related to the large share of single female buyers being first-time buyers.”

Her research indicates: “The median age of all home buyers was 39 years old, compared to 41 for single female buyers. Among single-female buyers, 58 percent were first-time home buyers in 2009, compared to 47 percent of all home buyers. The median household income for single-women home buyers was lower than that of all other homebuyer household types. Single females reported a median household income of $47,900 in 2008 compared to $73,100 among all home buying households. This difference in household income should not be completely surprising as 68 percent of home buying households are couples – and so perhaps likely to have two income earners. The difference in median income for single women households compared to those for single men is less striking—single men typically made $53,700 in 2008. Additionally, single women households are less likely to have children living at home than couples. Results from the survey show that 22 percent of single women home buyers have children at home, while 38 percent of all home buyers have children at home.”

Source NAR


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