Single-Women Home Buyers: A Market Worth Watchingby Paul Bishop and Harika "Anna" BarlettIn 2006, NAR Research surveyed recent home buyers about their experience in the home search process, the use of real estate professionals in purchasing a home, and the use of the Internet as a source of information about homes available for purchase. The results of the survey were published in NAR’s 2006 Profile of Home Buyers and Sellers.A significant share of home buyers are single women. Indeed, the percentage of single-women buyers has increased from 14 percent in 1995 to 22 percent in 2006.These home purchasers account for the second largest share of adult households who purchase homes.Below we look results from the most recent home buyer survey that focus on single-women purchasers.The Single-Female PopulationAccording to the latest U.S. Census Bureau statistics, just over half – 51 percent – of the U.S. population are females over the age of 15. The Census Bureau also reports that:
9.4 percent are widows
11.5 percent are divorced
2.6 percent are separated (and describe themselves as single)
25.5 percent have never marriedThe largest share of women in the population is those that are married. But more than 25 percent are or have never been married. Not surprisingly, most of those who have never married are between the ages of 15 to 19 years. But women aged 20-34 years old account for the largest percentage of single females. ( More detailed information available at the Single Female Home BuyersAs mentioned above, 22 percent of home buyers in 2006 were single women. The median age of all home buyers was 41 compared to 43 for single-female buyers. Among single-female home buyers, 46 percent were first-time buyers, compared to 36 percent of all buyers.The median household income for single-women home buyers was less than that for home buyers as a whole. Single-female home purchasers reported a median household income of $48,100 in 2005,compared to $71,800 for home buyers in general. This is not surprising since 68 percent of all home buyers are couples, many of whom probably have two incomes. On the other hand, single-female home buyers earned more than themedian income for all households – $46,326 in 2005. They were also less likely to have children. Survey results show that 76 percent did not have children living at home, compared with 62 percent of all home buyers.What They BuySingle female buyers are more likely to purchase an apartment/condominium or a townhouse/rowhouse than are home buyers in general. Still, the majority of single women purchase a detached single-family home. And while the majority of single women purchase a home in a suburb or subdivision, they are also more likely to purchase a home located in an urban or central city location than are home buyers as a whole. Single women tend to buy smaller homes.Because their household income is less than home buyers in general, it is perhaps not surprising that single female home buyers purchase homes that cost less than those purchased by the general home buyer population. The median price paid by single women buyers in 2006 was $169,370 compared to $214,000 for all buyers.Why They BuyA majority of home buyers purchase a home because of their desire to own a home of their own or establish a household. The same is true for single-female buyers, but to an even larger degree. While nearly a third of all home buyers purchase a home for this reason, 44 percent of single women buy a home because they want to own a home of their own. Compared to all home buyers, less than half of single-female buyers purchase a home due to a job-related location or move. But they are more likely to buy due to a change in family situation compared to home buyers in general. Single females were also more likely to have rented an apartment or house prior to their home purchase than were home buyers as a whole. Use of the InternetOne fifth of home buyers who used the Internet in 2006 to search for a home to purchase were single females. And single-women were more likely to be Internet home-searchers than were single-male buyers or unmarried household buyers. In fact, among single-female home buyers, the majority of them used the Internet to search for homes.Using the Services of a Real Estate ProfessionalThe majority of all home buyers take advantage of the knowledge and expertise of a real estate professional in their home purchase transaction. The same is true for single-female buyers. In 2006, 67 percent of single-women home purchasers used a real estate agent when they bought a home. What It Means for Real Estate ProfessionalsReal estate professionals know their own housing markets better than anyone. And the more they know about who is buying homes, what potential buyers want to purchase, and why those buyers want to be a homeowner, the better they can develop marketing plans and provide services to their clients. Single women are likely to continue to be a significant segment of home buyers. By using the information cited above – as well as other information contained in the 2006 NAR Profile of Home Buyers and Sellers– real estate professionals will be even better able to meet the needs of single-women home buyers.Find out how to order the 2006 NAR Profile of Home Buyers and Sellers and other NAR Research Products at the