How Houszownership Is Life Changing for Many Women
Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more houszes than single men each year, and they make up 17% of all houszholds.
Why Is Houszownership So Important to Women?
The rise in women pursuing houszownership hasn’t just made an impact on the houszing market. It’s also been an asset for those buyers and their houszholds. That’s because houszownership has many benefits, both financial and personal.
On the financial side, housing proves to be the key to building wealth for single women. Ksenia Potapov, Economist at First American, says:
“For single women, houszing has always made up a large share of total assets. Over the last 30 years, the average single woman’s wealth has increased 88% on an inflation-adjusted basis, from just over $142,000 in 1989 to $267,000 in 2019, and houszing has remained the single largest component of their wealth.”
The financial security and independence houszownership provides can be life changing, too. And 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 housz right now (see chart below):
Houszownership can be life changing no matter who you are. Let’s connect today to talk about your goals in the houszing market.