After a life of paycheck to paycheck as a single mom,
“It didn’t make sense to keep paying
It was anything but easy. The mother of two grown children has been outbid more than 10 houses as
She was quickly shut out of her target market in Eastvale and then to
If she succeeds in securing her new home, Wolfe will become one of the latest in a long line of single female homebuyers who outperformed their male counterparts to get their share of the American Dream.
Buyer surveys conducted by the
Realtors posted their latest homebuyers survey on
Single women “are an absolute force” in the housing market, said
“Women have only been overtaken by married couples since we followed him, which is impressive considering that until the 1970s, women needed a co-signer for a credit card,” he said. said Lautz.
Although single women traditionally have lower incomes than single men, survey responses show they are more willing to cut personal expenses to save for housing, she said.
âWomen are historically more likely to believe their home is a better financial investment than stocks compared to men,â Lautz said. “They will know what their (house) payment will be for the next 30 years. This is extremely important for women.”
NAR received 5,795 responses from primary home buyers who purchased a home between
The Homebuyers’ Survey was conducted 11 times periodically until 2003 and annually since 2004.
Married couples have taken the lion’s share of home buying in the past 40 years since the survey began, though their share has risen from a high of 81% in 1985 to 60% This year.
The share of homes bought by single men also changed little over the four-decade period and never exceeded 12%.
Agents surveyed recently hypothesized that single women are more caring, more likely to appreciate the investment value of homeownership, or more likely to raise children.
âBecause of the nurturing aspect and the need to take care of the family, we realize that there are things that need to be done to create more stability,â said
âI’ve always wanted a home,â West said. “Yes, you do when you get married. But I wasn’t going to wait.”
âThey’re single longer, so they buy before they get married,â said Cimetta, an agent for Vista Sotheby’s.
Simple demographics provide clues as to why more single buyers are women. On the one hand, they are more numerous.
Single women accounted for just over 25% of
But that’s a gap of less than 3 percentage points, compared to the home buying gap of 10 percentage points this year.
Two other sets of statistics are much more revealing: Single women are more likely to raise children than single men, and widows outnumber widowers. By a three-to-one margin, single women with children outnumber single men and widows outnumber widowers.
A census report shows that 76% of single-parent households are headed by women, while 24% are headed by men.
âHouseholds with children are more likely to become homeowners,â said one
Another factor is that women tend to outlive their spouses more often than men, creating a larger pool of buyers with previous ownership experience.
Local real estate agents say single buyers of both sexes are rarer in
“I haven’t seen a single buyer – single woman or single man,” said
A divorced mother who raised her son and two daughters on her own, Motta lived in several
The paralegal started to think about buying a house in the early 2000s. She was fed up with not being free to do whatever she wanted with her home. And almost all of his colleagues were owners.
In 2010, she participated in a home buying seminar led by local agents. After class, she stayed for an hour to check her credit and see if she qualified. She didn’t, but she shouldn’t be put off, said the agent, who gave her a list of things to work on.
“He said, ‘You have to be hungry for the house, decide what you want and stick with it,'” said Motta.
Over the next five years, she worked to improve her credit rating and researched the market. Through
âI was like a unicorn because it was rare for a single woman with children to seek a home,â Motta said.
But the market has changed so quickly in the 16 months she spent looking for a home, and the difficulties of winning a bid or closing her escrow
The idea of ââleaving
âBy the time I got out of escrow in July, there was nothing on the market (I could afford it). Everything was happening in the
Wolfe considered moving to
His offer was accepted. Wolfe will move into his new home with one of his daughters if the escrow closes as planned.
âMy fingers crossed, nothing is blocking the Vegas purchase,â Wolfe said. “It has been my dream (to own a house) my whole life.”