The Impact of Women on the Housing Market: Why Homeownership is Important for Single Women

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As Women’s History Month is observed, it’s a good time to reflect on the impact women have on the housing market. For over three decades, single women have been buying more homes than single men every year, making up 17% of all households.

So, why is homeownership so important to women? Well, owning a home is not only advantageous to the housing market, but it also has many personal and financial benefits for the homeowners themselves.

From a financial perspective, owning a home is key to building wealth for single women. According to Ksenia Potapov, an economist at First American, housing has always been a significant part of total assets for single women. Over the past 30 years, their average wealth has increased by 88% on an inflation-adjusted basis, from just over $142,000 in 1989 to $267,000 in 2019, with housing remaining the largest component of their wealth.

Besides financial security and independence, owning a home can be life-changing. It becomes even clearer when we factor in the personal motivations behind buying a home, as indicated in a recent report from the National Association of Realtors (NAR). The top reasons single women are buying a home currently are shown in the chart below:

Bottom Line: Regardless of gender, homeownership can be life-changing. Connect with a professional today to discuss your goals in the housing market.

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Author: Dowell Family Team

The Dowell Family Team: Your Trusted Real Estate Experts in Johnson County
At The Dowell Family Team with ReeceNichols Real Estate, we are dedicated to serving the residential real estate needs of Kansas Citians with a focus on Olathe, Overland Park, Gardner, Spring Hill, Leawood, Lenexa, Shawnee, and the surrounding Johnson County cities.
With over 35 years of combined experience in the local real estate market, our team blends professionalism with a personalized approach. We take the time to understand your unique needs and goals, whether you're buying, selling, or investing in property.

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