Real estate is commonly assumed to be a male dominated industry... but is it?
If you guessed otherwise, you'd be correct. If you didn’t know, let me be the first to tell you that 64% of Realtors® in the US are women.
Not only that, but women are dominating the market - specifically single women.
They are more likely to purchase a home on their own than a single man, according to The National Association of Realtors®, 20% of first time home buyers and 18% of repeat buyers were single women while single men made up only 11% of first time home buyers and 8% of repeat buyers.
(Image provided by NAR: Women Home Buyers)
While single women are still making less than single men, their desires are driving up their buying. The desire to be closer to friends and family, or need to own a multi-generational home, or possibility of having a child under 18 living with them, were much higher than that of single men. The overall difference in desire and need, investment preference and risk tolerance are what makes more women buy than men.
(Image provided by NAR: Single Women Buyers Outpace Men, but Not Without Sacrifices)
Women are chasing the same things that most buyers are - historically low interest rates, freedom to make a home their own, etc - add that with their needs and the fact that it really hasn't been that long since women have allowed to purchase real estate without their husbands approval (it was the mid 1970's) it makes sense as to why we are seeing the rate of single female ownership on the rise.
One of the many reasons I love the real estate industry is because there is no glass ceiling, and no gender pay gap - whether you're an agent or an owner of a piece of real estate. I’ve seen what owning real estate can do for my clients and know that using real estate as a tool can ultimately put you on a path for financial success long term and I find it super inspiring that more women are using real estate as a tool to achieve their financial goals.