Single Women Key In Housing Market Recovery
We’re buying the homes
First-time homebuyers largely have been credited for the slight upturn in America’s housing market. But the demographic group with the largest upward trend in homebuying is single women.
A recent National Association of REALTORS (NAR) report reveals that in 2009, 21% of homebuyers were single women—as opposed to only 10% of single men buyers.
Lisa Lauricella, a licensed associate broker with Daniel Gale Sotheby's International Realty in NY says there’s a reason for the increase in single women buyers, "They are climbing up corporate ladders. They are getting married less and later and think it's a financial decision." The NAR study backs her up. Single women buyers tend to be a little older than the average home buyer; their typical age is 41, compared to 39 for all home buyers.
Brokers say that women buyers tend to do a little more digging into potential purchases and ask more detailed questions about the homes they view than male customers. They’re more likely to be concerned about the safety in their neighbourhood, about school system, road noise, to the layout of the kitchen and bathroom. Judi Desiderio, president of Hamptons, N.Y.-based Town and Country Real Estate agrees, “They’re very analytical, very methodical.”
This certainly was my own experience. When I bought my first home last year, the one thing I told my agent I wanted was a house where I could walk home from the subway at 1:00am after a girl’s night out. I also looked up every address of houses that I liked on Google—too discover any hidden stories of flooding, crime, neighbour disputes, etc.
We’re building them, too
Women are also building the houses we single women are living in. More women are entering the building trades looking for job security and growth they’re not finding in the office. Also Habitat for Humanity offers a women only building day for layperson volunteers.
The retirement sleep-over
Another single woman housing trend? Single, heterosexual female boomers are looking for post retirement security by moving in together. Single, older women and even those with mates who they expect to outlive are planning to live with friends. ''These are the wonderful, nurturing relationships we've grown up with,'' said Laura Young, 53, executive director of the Older Women's League. ''We lived together in dorms and sororities. We shared apartments after graduation. We traveled together. Why not take it to the next level?''
Your dream condo or home is out there--happy house hunting!