According to the National Association of Realtors (NAR)  Profile of Home Buyers and Sellers, single women are buying homes at nearly twice the frequency as single men.

The report says that single women now constitute 23 percent of first-time buyers and 16 percent of repeat buyers. Single men, on the other hand, comprise 15 percent of first-timers and 8 percent of repeat customers. That's virtually unchanged from last year.

In the past few women could be approved for a mortgage or bank loan without being co-signed by a husband or other male family member."Only the husband's income even counted"

Now, about one in five homeowners are single females, which makes them the second-largest home buying demographic after married couples.

While there is little consensus about why single men haven’t caught up in home-buying rates, there are a variety of statistical factors behind the number of single women entering the real estate market.

Demographic changes are driving a large part of the trend, with an increasing number of women acting as the primary breadwinners for unmarried households.

Additionally, women home buyers may simply be a more secure investment for lenders. Experian, a business services company, found that men have a 7 percent higher incidence of late mortgage payments and 4.3 percent more debt than women.

Jessica Lautz, director of survey research for the NAR, pointed to surveys that demonstrate that women place a higher priority on home ownership and have a willingness to give up more in order to attain that goal.

"We asked did they make any sacrifices like cutting spending on entertainment, on luxury items they don't necessarily need, on clothing, even getting a second job," she told NPR. "And consistently, single female buyers are making those sacrifices more than other buyers."

Increasingly, single women are also turning to property ownership as a secondary income source.

Single women are a very discriminating buyer. They can see beyond the way a property may show as well as how they can fix it up and how it can be a dream home."

Elsa Bocchinfuso

Elsa Bocchinfuso

Sales Representative
CENTURY 21 Miller Real Estate Ltd., Brokerage*
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