Apart from married couples who make up 63% of the homebuying market, there is one group that stands out as one of the largest homebuyers – single women. At 18% of market, single female homebuyers easily beat out single men who make up 9% of the market.
In 2018, single women owned more homes than single men by 2.4 million. There are a handful of areas throughout the United States where single women own homes more than single men do. Many of these areas are in Florida, with North Port having the highest ownership rate for single women at 69.8%, according to the National Association of Realtors. Single women also purchased homes at higher prices. The NAR’s Profile of Homebuyers and Sellers reported that the median price of homes bought by single women was $200,450, while the median price of homes was $189,920 for men.
Most single women homebuyers are Baby Boomers or part of the Silent Generation, according to the National Association of Realtors Home Buyer and Seller Generational Trends. However, this group comes in all ages as single women of all ages and backgrounds are owning more homes.
At Homestead Funding, we strive to make your homeownership dreams a reality with a convenient home financing process. We prioritize customer service, ensuring that your questions are answered, and your goals are met. Contact us now to get started.
Source: National Association of Realtors
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