National Association of Realtors survey shows increasing trend

Single women are much more likely than single men to buy real estate, according to a study by the National Association of Realtors (NAR). The study shows that 21% of all U.S. homes were bought by single women last year, while only 8% of homes were bought by single men. These figures are up significantly from the 1985 survey where only 10% of homebuyers were single women.

Of course the single buyer isn’t necessarily a young person or a first-time buyer. Some are divorced or widowed or are just downsizing. The U.S. Census shows that in 31% of all women between the ages of 50-54 were unmarried in 2004.

What’s interesting is that the single men aren’t buying homes at the same rate. Laurence Micelson, author of "Getting the White Picket Fence Without a Man!", says that "Men and women think differently about money. Women are looking for the nesting feature. Men really don’t care. Men can nest in their car."

NAR spokesman Walter Molony states that "Our survey doesn’t explain why. It gets down to being as simple as women have a better understanding of housing as a long-term investment. Single guys are more interested in consumption. They don’t get serious about real estate until they meet the right woman."

Women buyers have been buying up condos at a rapid pace, with single women making up 40% of the condo buyers market in 2005. This is likely a combination of pricing and security, with condos requiring less maintenance than a single family home and the presence of security features like gated entries.

Some home builders are now starting to market more to women as a result of this trend. For example, KB Home is starting to add more features that appeal to women such as walk-in closets and spa-like master baths. KB Home has recently created an aliance with Marth Stewart to create homes with exterior stylings inspired by Martha’s own homes and design features and details rarely found in new homes. Their Twin Lakes development in Cary, NC is the first to feature homes developed with the Martha Stewart designs.

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