Whether it’s to build wealth, stay close to friends or family, or create stability, single women are snapping up single-family, detached homes.
CNBC reports that, according to data from the NAR, single women made up 17 percent of all homebuyers last year. The share is double the rate of single men, even though single women have lower average incomes.
A subgroup of single women, however, are pushing the pace the fastest.
Much of the buying is by older women. That could just be part of the trend of downsizing baby boomers. "They're either divorced or their husbands have died, and they have the money and they're buying," said Jane Fairweather, a real estate agent in Bethesda, Maryland. "They want stability. They want to have control over their monthly expenses. They're going to be where their children or friends are. They're not whimsical at that age."