First Time Buyer: Put Women in There Rightful Place

Boy, have times changed! In today’s real estate market there are more single women, roughly double that of single men that are purchasing homes. From my personal experience I estimate that about 35% of my clients that are looking to purchase a home are single women, approximately 45% are couples
and about 20% are single men. These astounding numbers inspired me to write this article and to seek out a few facts and stats for myself.

Well, for starters record numbers of single women are buying homes! Currently three out of five home buyers are single women. The reasons for the current home buying trend varies. One very good reason is that these women are smart. They realize that this is the right time to purchase real
estate, that the market is ripe for the first time buyer or those looking to improve their financial status. Another reason appears to be that they simply are tired of renting and wish to own a home of their own. In other cases, clients desire a better school district for their kids, others want to be
closer to their job or family members.

Another fact that I found quite interesting is that women are more inclined to make up their minds quicker than men. A survey of 1000 men and women had shown that almost 70% of women made up their mind to purchase the home the day they saw it versus 62% of men. Amazingly, single women make up more than 1/3 of the growth in real estate ownership since 1994.

The statistics also show that 3 out of 4 women spend less than $200,000 on a new home. That many women purchase homes with 2 or more bedrooms and are less likely to choose new construction. Woman are also less likely to compromise on location, quality of neighborhood , home size or cost in
exchange for other amenities. One thing for sure is that women are a force to be reckoned with in today’s real estate market.

For More information on how My First Michigan Home has positioned itself to take advantage of the fast changing trends in the First Time Buyer market. Please feel free to contact us at 248-569-1486 or