27 Dec Women are looking to buy at a higher rate!
Women are looking to buy!
It is safe to say that everybody, at some period in their lives, would really like somewhere that belongs to them and to purchase their own home.
A home that that fits their needs and that gives them a certain level of security that owning a home provides.
In our current market we are seeing a greater number of women looking to purchase. They are pursuing their dream of being a home owner. The stats on this are very telling…2018 marks the second consecutive year that females, not married, made up 18% of all home buyers. With a staggering number of homebuyers being millennial’s, single, and you guessed it- female. 60% of home buyers fit in this category.
A report discharged by the National Association of Realtors explained that consistent with current trends, 1 out of 5 buyers in the United States were single females.
You can see more into these details within the graph below:
Our country’s population is predominantly female, so this isn’t too surprising.
According to The government agency roughly 50.8% of the population is female, 15.6% being at a more advanced age of 65 years of age or older.
We are left wondering, is there a specific reason, or reasons, why this particular demographic are taking an increased interest in owning a home? Why are women looking to buy now?
Bankrate recently released an article outlining what they feel are some of the reasoning behind it:
Divorce rate: This looks to be the most important issue for the homebuying by women.
Due to, the “Gray Divorce” or “Silver Splitter.” the frequency has doubled for those ages fifty years and over.
Additionally, it has also tripled for those ages 65 years of age and over.
Life expectancy: Women generally have a life expectancy of 81.
This is an added four years than that for males.
Home equity: A need to build home equity could be a huge reason. Bankrate recently declared , “some are hoping to escape rising rents, some might be downsizing or looking for a new start.” This may be especially true for women going through
a gray divorce.
What Does This Mean?
Does this mean that those females wanting to shop for a home are downsizing from their current homes or solely taking notice of the smaller homes?
Not at all…
An exceedingly recent and telling statement by The Institute of Luxury Home Marketing: “The number of female billionaires grew quicker globally in 2017 than the amount of male billionaires.
This distribution of wealth has seen a sway on luxury assets each in its purchase and style attributes…”
Are you a millennial wanting to take that leap and get in your very first home?
Are you searching for a luxury home?
Maybe you’re somebody WHO simply went through an enormous life modification, like a gray divorce.
Maybe you’ve just moved to Minnesota. Either way, we can help you!
Give The Anderson Team a call today!
Let’s start today creating a wish list of things you’re searching for, for your dream home.