Single females lead the way in homeownership in nearly every state

___

Published Date 3/6/2024

When Helen Reddy belted out, “I am woman; hear me roar; in numbers too big to ignore” way back in 1972, it’s doubtful she was talking about single women becoming the largest homeowner demographic in the U.S.

Realtor.com’s Kiri Blakeley says that while women still earn 83 cents for every dollar made by men, they trounce them in another key financial area: owning a home. Citing the latest Lending Tree analysis, overall, single women own 2.71 million more homes than single men, an increase of 70,000 homes from 2021.

The top 10 states with a larger share of single female homeowners than single men are all in the eastern part of the country except for one state (New Mexico) with Delaware, Louisiana, and Mississippi leading the way. But overall, single women also lead the homeownership charge in all but three states: Alaska, North Dakota, and South Dakota.

Why is this true, you may ask? Because homeownership is more important to women. Plain and simple. They nest.

“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 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.”

Blakeley adds that 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.

Realtors around the country, who have dealt with female buyers in greater numbers than ever before, say women are tired of paying high rents that are the equivalent of a mortgage payment. Many are secure in their careers and want to ride the wave of ownership and investment.

Oh. And there’s this other thing. Women still outlive men, with many having outlived their spouses.

Attorney and author Cindy Watson who writes about feminine negotiation skills, says females might also be better at negotiating a real estate deal than men. “The myth or misconception is the belief that negotiation is all about toughness, the bark and bite,” Watson says. Important skill sets of effective negotiators are characteristics that might be considered more feminine, such as compromise and empathy, while men might aggressively try to drive too hard of a bargain.

Watson says a man might say 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.”

Women feather their nests using tact. Honesty. Smarts. It just works.

Realtor, TBWS

All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

This communication (including attachments) is for information purposes only. It is not an offer, solicitation, recommendation, or commitment for any transaction or as a confirmation of any transaction. Bobbie Jo Haggard, NMLS #92472; Heartland Mortgage Inc, NMLS #3205; Office: (509) 529-3280; Licensed to business in Washington & Oregon; NMLS CONSUMER ACCESS WEBSITE: HTTPS://www.NMLSConsumerAccess.org