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One in five consumers buying a home today is a single woman. This cohort is the second largest group of home buyers in the country, trailing only married couples. What’s more, women now control nearly 60% of all personal wealth in the U.S., according to the National Association of Women Business Owners and the Small Business Administration. Understanding this mighty buying force and their housing preferences will help real estate professionals better serve their clientele.
Meyers Research in Costa Mesa, Calif., conducted a survey analyzing the buying preferences of 33,000 home shoppers, including both men and women with a variety of locations and price points. They found that the influence of the female buyer segment goes further than expected. Not only are women involved in buying their own homes, but they also help guide many single men who seek advice during a home search.
Following the purchase, women often take the reins in deciding what goes into the home, whether they’re buying solo or with a spouse. The interior is considered a reflection of her success and who she is, said Mollie Carmichael, principal and lead strategist with Meyers Research, who presented the survey results during a webinar on “What Women Want in Community and Houses” in October.