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Saving for a healthy deposit and qualifying for a home loan is challenging enough in the present housing market environment for buyers with dual incomes. But, single women are making it work somehow on their own, and in a big way.
The National Association of REALTORS® (NAR) pored through its research dating back to 1981, and found that among all homebuyers then, 73% were married couples, 11% were single women, and 10% were single men. Now, according to the organization’s latest data in its report, “2024 Profile of Home Buyers and Sellers,” 62% of all homebuyers are married couples, 20% are single women, and just 8% are single men.
Among first-time homebuyers specifically, single women stand out even more, comprising 24% (nearly one out of four) of those purchasing homes today. So, it's a wise mortgage originator, indeed, who chooses to target this demographic.
Single women homebuyers are "likely a growing segment of the market," Dr. Jessica Lautz, deputy chief economist and vice president of research at NAR, told National Mortgage Professional. "I don't think this is something that's going to go away anytime soon. Single women have clearly shown that they want and desire homeownership, a home of their own."