How Homeownership Is Life Changing for Many Women
Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households.
The rise in women pursuing homeownership hasn’t just made an impact on the housing market. It’s also been an asset for those buyers and their households. That’s because homeownership has many benefits, both financial and personal.
On the financial side, housing proves to be the key to building wealth for single women. Ksenia Potapov, Economist at First American, says:
“For single women, housing has always made up a large share of total assets. Over the last 30 years, the average single woman’s wealth has increased 88% on an inflation-adjusted basis, from just over $142,000 in 1989 to $267,000 in 2019, and housing has remained the single largest component of their wealth.”
The financial security and independence homeownership provides can be life changing, too. And when you factor in the personal motivations behind buying a home, that impact becomes even clearer.
A recent report from the National Association of Realtors (NAR) shares the top reasons single women are buying a home right now (see chart below):
Homeownership can be life changing no matter who you are. Let’s connect today to talk about your goals in the housing market.
Stay up to date on the latest real estate trends.
While much of the Bay Area is experiencing inventory issues, the vast majority of areas are seeing inventories begin to pile up. As we know, San Francisco has the oppo… Read more
Median sale prices in the East Bay have fallen for six months straight.
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Single-family home median sale prices rose by 4.42% on a year-over-year basis, while condo median sale prices rose by 10.52%. Additionally, the average single-family h… Read more
Single-family inventory levels are 20.05% higher on a year-over-year basis, and condo inventory levels are 13.15% higher.
Although many markets have seen a downtrend in pricing, San Francisco has remained incredibly resilient.
Although prices have been incredibly resilient in the East Bay, the future of this stability is very uncertain, as inventories have been growing at a tremendous rate.
Single-family homes continue to be a hot commodity, while condos continue to sit on the market.
Inventory levels are increasing drastically throughout the entire East Bay, with the area seeing over 40% more active listings than this time last year.
You’ve got questions and we can’t wait to answer them.