A quick overview of the new female home buyer
It used to be that home buyers were male, couples or families. However, the face of the 2018 buyer has changed quite a bit, with a trend towards more women becoming home owners.
According to recent research by Veritas Urbis Economics, "The share of U.S. home buyers comprised of women has increased to 46.4% in 2017 from just 18.9% in 1981." Here is a quick overview of the stats behind the new female home buyer.
The Buying Stats
There is an increasing improvement to the status and education of women in the U.S. including:
Women with a bachelor’s degree or higher rose to 25.1% in 2017 from 11.1% in 1981.
The share of women at work increased to 42.5% in 2017 from 35.3%. in 1981.
Households headed by females increased 76% for women living alone and 72.1% with partners.
The share of females among all home buyers increased 144.8% for those living alone and 108% for those with partners.
Why are they Buying?
According to the 2016 Home Shopper & Buyer Insights Study by Builders Digital Experience there are five main reasons women are choosing to buy their own home including:
30 percent wanted to own their own place
10 percent of these women were also looking for a bigger home than the one they were renting
23 percent found home prices favorable in their area
20 percent found interest rates favorable
18 percent had experienced a recent increase in income
Other reasons women are making the move to buy include wanting to live in a safer neighborhood, or be closer to family and friends
Read the entire report The Changing Face of the U.S. Home Buyer.