How Homeownership Is Life Changing for Many Women

<article class="post-659604 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-659604"><span class="entry-date">March 28, 2023</span><div class="entry-header center-block text-center"><h1 class="entry-title">How Homeownership Is Life Changing for Many Women</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=How+Homeownership+Is+Life+Changing+for+Many+Women&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fhow-homeownership-is-life-changing-for-many-women%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="How Homeownership Is Life Changing for Many Women Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20230328-how-homeownership-is-lifechanging-for-many-women-KCM.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width="358"/>
<p>Throughout <a href="https://womenshistorymonth.gov/" rel="noopener noreferrer" target="_blank">Women’s History Month</a>, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, <a href="https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers" rel="noopener noreferrer" target="_blank">single women</a> have bought more homes than single men each year, and they make up <a href="https://www.nar.realtor/blogs/economists-outlook/celebrating-the-single-women-home-buyers-for-galentines-day" rel="noopener noreferrer" target="_blank">17%</a> of all households.</p>
<h4><strong>Why Is Homeownership So Important to Women?</strong></h4>
<p>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 <a href="https://www.simplifyingthemarket.com/2023/03/23/why-buying-a-home-is-a-sound-decision/" rel="noopener noreferrer" target="_blank">financial</a> and <a href="https://www.simplifyingthemarket.com/2023/03/15/balancing-your-wants-and-needs-as-a-homebuyer-this-spring/" rel="noopener noreferrer" target="_blank">personal</a>.</p>
<p>On the financial side, housing proves to be the key to building wealth for single women. Ksenia Potapov, Economist at <em>First American</em>, <a href="https://blog.firstam.com/economics/for-single-women-housing-remains-largest-component-of-wealth-creation" rel="noopener noreferrer" target="_blank">says</a>:</p>
<blockquote><p><em>“For single women, housing has always made up a large share of total assets. Over the last 30 years, </em><strong><em>the average single woman’s wealth has increased 88%</em></strong><em> on an inflation-adjusted basis, from just over $142,000 in 1989 to $267,000 in 2019, </em><strong><em>and</em></strong><em> </em><strong><em>housing has remained the single largest component of their wealth</em></strong><em>.”</em></p></blockquote>
<p>The <a href="https://www.simplifyingthemarket.com/2023/03/10/buying-a-home-may-make-more-sense-than-renting-infographic/" rel="noopener noreferrer" target="_blank">financial security</a> 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.</p>
<p>A recent report from the <em>National Association of Realtors </em>(NAR) <a href="https://www.nar.realtor/blogs/economists-outlook/celebrating-the-single-women-home-buyers-for-galentines-day" rel="noopener noreferrer" target="_blank">shares</a> the top reasons single women are buying a home right now (<em>see chart below</em>):</p>
<p><a href="https://files.keepingcurrentmatters.com/content/images/20230327/20230328-top-reasons-to-purchase-a-home-MEM.png" rel="noopener noreferrer" target="_blank"><img decoding="async" src="https://files.keepingcurrentmatters.com/content/images/20230327/20230328-top-reasons-to-purchase-a-home-MEM.png"/></a></p>
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