Homeownership Can Be Life-Changing for Women
Since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households.
The rise in women pursuing homeownership has not only made an impact on the housing market, it has offered financial and personal benefits to these owners.
It is reported that the average single woman’s wealth has increased 88% on an inflation-adjusted basis, and housing has remained the single largest component of their wealth. The financial security and independence that homeownership offers women can be life-changing.
Other than the dollars and cents, the National Association of Realtors (NAR) share the following non-tangibles as the top reasons single women become homeowners:
27% - Desire to own their own home
19% - Desire to be closer to loved ones
13% - Change in family situation
This mixed range of benefits clearly has a positive impact on the lives of these homeowners and those with whom they share their lives.