Embedded from MGIC Connects
Did you know that single women are now the second largest group of home buyers in the nation?
According to the above very recent infographic by Mortgage Guaranty Insurance Corporation (MGIC), while married couples represent 54% of all American home buyers, single women are the next most active sector at 18%. This puts them in front of unmarried couples (15%) and single men (11%).
The infographic makes for interesting reading. Women are now outpacing men in higher education participation and success. 45% of women between 18 and 24 are enrolled in college, as opposed to 37% of men. Between the ages of 25 and 32, 38% of women have a bachelor's degree, compared to 31% of men.
36% of single women live at home with parents or relatives - the highest percentage since 1940. This hasn't stopped their rise as active home buyers, however, with a median age of 32 when they become first time home owners and a median income of $49,000 for single women home buyers.
This unquestionably shows the importance that women place on home ownership compared with other groups. It also emphasizes the importance of correctly marketing homes to this sector.
As always, please don't hesitate to call us if you have any specific queries on home ownership or selling.