| Women are working more, earning more and | | | | December 2006 study by the National |
| buying more than they ever did. Consequently, | | | | Association of Realtors (NAR) was that about |
| they have a significant influence on the | | | | 22 % of homes purchased between July 2005 and |
| American economy in general, and the real | | | | June 2006 were by single women who were in |
| estate industry in particular. | | | | the 25 to 34 age range. Women accounted for a |
| | | | record number of 1.76 million home purchases |
| The collective buying power of US women | | | | (1 in every 5 homes), a significant increase |
| accounts for about 85 % of all consumer | | | | from 14 % a decade ago. Women's growing |
| purchases. When it comes to purchasing | | | | success in their careers, higher education, |
| patterns, women are estimated to make 94 % of | | | | financial independence and a desire to build |
| home furnishings decisions, 91 % of new homes | | | | an early nest on their own, are some of the |
| purchase decisions, and 89 % of travel | | | | reasons that have spearheaded this home |
| decisions. | | | | buying trend. |
| | | | |
| Women's earnings have accelerated over the | | | | Among the vast demographic spectrum in the |
| last few years and they have emerged as the | | | | real estate industry, women have become a |
| Chief Purchasing Officers in their | | | | force to reckon with. Real estate agents are |
| households. According to IRS data, women | | | | increasingly taking note of their female |
| constitute 39 % of the top wealth holders in | | | | clients and the power they wield in home |
| the country. This means about 2.5 million | | | | buying decisions. By the influence that they |
| women possess a wealth of $4.2 trillion put | | | | bring into play in home buying decisions, |
| together. Notably, the IRS estimates that by | | | | women form a significant and growing market |
| 2050, 42 % of these women will be single or | | | | that simply cannot be ignored. |
| widowed. The IRS further estimates that more | | | | |
| wealth is bound to be accumulated among | | | | If you are considering buying a home, condo, |
| women. | | | | or any other real estate, be sure to seek out |
| | | | the services of a local real estate agent to |
| Another growing trend that emerged in a | | | | guide you through this complex process. |