It’s time for a little myth busting, all! Typically when we talk about homeownership, the conversation drifts towards families (single or multi-generational). However, single folks have also had a large impact on the housing market and since 1981, single women have bought more homes than single men each year. In fact, they make up 17% of all households. Homeownership is life changing for many women and has increased their overall wealth. Three cheers for equity!
Why Is Homeownership So Important to Women?
Yeah, I may have spoiled that one already. Hello wealth building! According to a recent report, the average woman’s wealth has increased a whopping 88% over the last 30 years and housing is the single largest component. Totally life changing! When you factor in the personal motivations behind buying a home, that impact becomes even clearer.
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):
Bottom Line
Homeownership is life changing no matter who you are. Let’s connect today to talk about your goals in the housing market.
