Mortgage Trends: Single Women Buying Homes on the Rise
One of the most interesting mortgage trends is the rise in the number of single women buying homes. Even as the number of married people buying homes begins to decline, single women are viewing home ownership as a real estate investment that they can make. Hawaii Business reports on this home mortgage trend:
Married couples still comprise the largest percentage of homebuyers, but that percentage is shrinking. According to the National Association of Realtors, married couples comprised 60 percent of purchasers in 2006, compared to 70 percent in 1995. The percentage of single men who have purchased homes has remained stable at 9 percent. By comparison, single women comprised 22 percent of U.S. home purchases in 2006, up from 14 percent.
Even though these statistics do not take into account the number of single women with serious partners (boyfriends, fiances, same-sex partners, etc.), it still shows mortgage trends leaning toward home ownership by singles.
Single, professional women are becoming a demographic to be reckoned with. Again, Hawaii Business magazine reports:
At least one real estate company is paying attention. In May, Coldwell Banker launched a marketing program aimed specifically at single women, which includes topics such as financing, finding a home and negotiation. In a press release announcing this initiative nationwide, Charlie Young, senior vice president for marketing of Coldwell Banker Real Estate Corp., noted that “this group has demonstrated its clout in the real estate market and has the economic capability to gain the American dream of homeownership.â€
Single women are independent, have disposable income and are often interested in making solid financial decisions. And with the current down real estate market in many parts of the country, professional women are looking to find bargains in real estate.
With personal finance and investing classes and workshops for women becoming more available (and popular), it is no surprise that single, professional women are taking the plunge into home ownership.
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real estate market, real estate investment, buying homes
