In today’s housing market, more and more single women are becoming homeowners.

According to data from the National Association of Realtors (NAR), 19% of all homebuyers are single women, while only 10% are single men.

If you’re a single woman trying to buy your first home, this should be encouraging. It means other people are making their dreams a reality – so you can too.

Why Homeownership Matters to So Many Women

For many single women, buying a home isn’t just about having a place to live—it’s also a smart way to invest for the future. Homes usually increase in value over time, so they’re a great way to build equity and overall net worth. Ksenia Potapov, Economist at First American, says:

“. . . single women are increasingly pursuing homeownership and reaping its wealth creation benefits.”

The financial security and independence homeownership provides can be life-changing. And when you factor in the personal motivations behind buying a home, that impact becomes even clearer.

The same report from NAR shares the top reasons single women are buying a home right now, and the reality is, they’re not all financial (see chart below):

If any of these reasons resonate with you, maybe it’s time for you to buy too.

Work with a Trusted Real Estate Agent

If you’re a single woman looking to buy a home, it is possible, even in today’s housing market. You’ll just want to be sure you have a great real estate agent by your side.

Talk about what your goals are and why homeownership is so important to you. That way your agent can keep what’s critical for you up front as they guide you through the buying process. They’ll help you find the right home for your needs and advocate for you during negotiations. Together, you can make your dream of homeownership a reality.

Bottom Line

Homeownership is life-changing no matter who you are. Connect with a local real estate agent to talk about your goals in the housing market.

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Even though women still earn 83 cents for every dollar made by men, they trump men in another key financial area: owning a home.

A LendingTree analysis of the latest (2022) U.S. Census Bureau data finds that more single women than single men own homes. Overall, single women own 2.71 million more homes than single men, an increase of 70,000 homes from 2021.

Here are the top 10 states with a larger share of single-female homeowners than single men:

Single women lead the homeownership charge in all but three states: Alaska, North Dakota, and South Dakota.

Given that women still lag behind men in terms of salary and overall wealth, why are they ahead in the homeownership game?

In short: It’s just more important to women.

Why women prioritize homeownership more than men

“Women seem to be very interested in homeownership, and the data suggest that they have been more successful at becoming homeowners without a spouse,” says Realtor.com® Chief Economist Danielle Hale. “Without getting too gender stereotypical here, I suspect it’s because they’re more determined and likely place a higher priority on having a home.”

According to LendingTree’s analysis, “There’s evidence that single women are more willing than single men to make sacrifices to become homeowners.”

Women also tend to be more risk-averse—and owning a home is still considered one of the safest investments out there.

“The steady return of homeownership, coupled with the fact that your investment provides a tangible benefit—i.e., a roof over your head—likely makes a home a favored purchase for women,” says Hale.

Another reason single women might own more homes than men is the simple fact that on average, women outlive men.

“Some of those women have likely outlived their spouses,” Hale notes.

Indeed, in the LendingTree analysis, single-female homeowners tend to be older than single-male homeowners.

Why women may negotiate a better real estate deal

Women not only have the edge in homeownership, but they might also be better at negotiating a real estate deal than men, according to research by Cindy Watson, attorney and author of “The Art of Feminine Negotiation.”

“The myth or misconception is the belief that negotiation is all about toughness, the bark and bite,” Watson says. But the reality, in her analysis, is that 5 of the 6 important skill sets of effective negotiators are characteristics that might be considered more feminine, such as compromise and empathy.

In trying to close a deal, for instance, a man might aggressively try to drive too hard of a bargain by saying something like, “This place is a dump. You can’t expect me to pay full price.” But a woman might say something like, “I know you love this house, and I love it, too. I want to create wonderful memories here. But my budget only goes so far.”

Single Women Are Embracing Homeownership

In today’s housing market, more and more single women are becoming homeowners.

Read more at KeepingCurrentMatters.com

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