We all want a place to call home, a place that gives us a sense of security, a piece of the American Dream. Currently, we are seeing a major interest from females who want to achieve this dream and the numbers continue to prove it.
This year, for the second year in a row, single female buyers accounted for 18% of all buyers. Last year, 60% of millennial women listed as the primary borrowers on mortgages were single.
According to the 2018 Home Buyer and Seller Generational Trends Report by the National Association of Realtors, one in five home buyers in the U.S. were single females, most of them part of the baby boomer generation, as you can see in the graph below:
This does not come as a surprise since 50.8% of the U.S. population is female and 15.6% of them are 65 years and over, according to the Census Bureau.
When you look into it, there are several reasons for this demographics’ booming interest in home ownership:
- The Divorce Rate, especially what is known as “Gray Divorce”: The divorce rate has doubled for those ages 50 and over and tripled for those ages 65 and over.
- Average Life Expectancy: For women it’s 81, four years longer than men.
- To Build Home Equity: Women want to build equity through their home.
- To escape rising rents
- Looking for a “fresh start”
Now, whether you are a millennial who wants to buy a starter home, a billionaire looking for that luxury home you’ve always wanted, or maybe even someone who just went through a gray divorce, let’s get together to help you create your real estate portfolio so that you can start investing your money in real estate today!