Pixel Tracker

Monday, March 18 , 2019, 7:25 pm | Fair 59º

 
 
 

Craig Greene: More Single Women Buying Homes

The numbers have been on the rise for years, and recent conditions have only fueled the trend

Single women account for the fastest-growing segment of the home-buying population in the United States.

The trend has been on the rise for many years. From 1994 to 2002, the number of unmarried women owning homes climbed from 13.9 million to 17.5 million. By 2004, 18 percent of all homebuyers were single women. According to the latest National Association of Realtors profile of homebuyers and sellers, that number has risen to 22 percent.

Factors leading to the increase include the following demographic trends: better education, more women working and seeking financial independence, and young women delaying marriage.

Also, women have significantly increased their purchasing power. They own and operate 38 percent of all businesses in America and make up nearly 40 percent of all business school graduates. More immediately, historically low interest rates, affordable home prices, ample housing supply and the first-time homebuyer tax credit are fueling the increase of single women homebuyers.

Statistically, women do more research and spend a longer period of time searching for a home. They’re also more inclined to make home repairs. Studies show that nearly half of all purchases made in Home Depot and Lowe’s are made by women. And 94 percent of women homeowners claimed to have completed a home improvement project by themselves in the past five years.

Some home characteristics that experts say appeal to women: a safe community (single women account for a large number of condominium purchases where they find a sense of security), a home office (home-based businesses are popular among women), maintenance-friendly yards, lots of storage and natural light, particularly in the master suite and bathroom. Statistically, women are also more likely to work with female mortgage brokers, attorneys and real estate professionals.

— Craig Greene is a senior loan officer at Prospect Mortgage, 3916 State St., Suite 100, Santa Barbara 93105. He can be reached at .(JavaScript must be enabled to view this email address) or 805.898.4211.

Support Noozhawk Today!

Our professional journalists work tirelessly to report on local news so you can be more informed and engaged in your community. This quality, local reporting is free for you to read and share, but it's not free to produce.

You count on us to deliver timely, relevant local news, 24/7. Can we count on you to invest in our newsroom and help secure its future?

We provide special member benefits to show how much we appreciate your support.

Email
I would like give...
Great! You're joining as a Red-Tailed Hawk!
  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.