Trends in Women's Homebuying

Homeownership trends in the United States have shifted in recent years.  Women have become a strong force in the housing market. Women are leading the charge in home ownership, reshaping traditional narratives, and carving out their space in real estate.

Women as Homebuyers

According to the National Association of Realtors (NAR), single women accounted for a remarkable 19% of all homebuyers in 2023 speaking to the growing economic independence and financial empowerment of women across the country. The U.S. Census Bureau reveals that single women householders own a staggering 20.3 million homes, surpassing the number owned by single men householders, which stands at 14.9 million.

In the past four decades there is a consistent upward trend in the share of single women buyers. This trend signifies a shift in demographics and a profound societal change where women are increasingly taking charge of their financial futures and investing in long-term assets like real estate.

Diversity is another noteworthy aspect of this surge in women homeownership. The NAR data showcases that single women homebuyers predominantly identify as White/Caucasian (81%), followed by Black/African-American (10%), Hispanic/Latino (6%), and Asian/Pacific Islander (3%). This diversity underscores the inclusive nature of the housing market, reflecting the aspirations and dreams of women from various cultural backgrounds.

Financial stability plays a crucial role in facilitating homeownership, and single women are proving themselves adept at navigating this terrain. With a median household income of $70,600 as of 2023, single female homebuyers are demonstrating their capacity to manage finances effectively and make significant investments in property.

Preferences in Homeownership

Furthermore, the housing preferences of single women and men provide insights into their priorities. According to the NAR, both groups are more inclined to purchase rowhouses, townhouses, cabins, or cottages rather than detached single-family homes. This preference might reflect a desire for community living, lower maintenance costs, or a penchant for unique and cozy dwellings. Whatever the reason, it showcases the diversity of preferences within the housing market and the adaptability of women in selecting homes that align with their needs and preferences.

Market Trends and Implications for Homeownership

As we celebrate the rise of women homeownership, it's essential to recognize the broader implications of this trend. Beyond the numbers, it signifies a shift in societal attitudes towards gender roles, financial independence, and property ownership. As women navigate systemic barriers to claim their rightful place as homeowners and decision-makers in the real estate arena.

However, challenges persist, including the gender pay gap, access to affordable housing, and systemic inequalities that disproportionately affect women, especially those from marginalized communities. Addressing these challenges requires concerted efforts from policymakers, real estate professionals, and society at large to create a more equitable and inclusive housing market.

Women are taking full advantage of the financial independence and security that comes through owning property. Armed Forces Bank’s Loan Officers are ready to help all clients navigate the path to home ownership.

Meet Our Women Leaders and Loan Officers at Armed Forces Bank:

Melanie Aguto has more than 20 years in mortgage lending. As an active-duty military spouse, she understands the unique needs and challenges that Veterans and Military personnel face when it comes to home loans and home ownership.

Loree Jones brings great experience in the industry working with many loan products to help clients get exactly what they need. She promises to go above and beyond to provide exceptional service every step of the way.

Heather Schneider brings more than 25 years of experience in mortgage lending. As a VA home loan expert, Heather frequently works with veterans and active-duty military and is dedicated to help each client find the right loan to meet their needs.

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