Women Drive Real Estate Purchases

Women are working more, earning more andof Realtors (NAR) was that about 22 % of
buying more than they ever did. Consequently,homes purchased between July 2005 and June
they have a significant influence on the American2006 were by single women who were in the 25
economy in general, and the real estate industryto 34 age range. Women accounted for a record
in particular.number of 1.76 million home purchases (1 in every
The collective buying power of US women5 homes), a significant increase from 14 % a
accounts for about 85 % of all consumerdecade ago. Women's growing success in their
purchases. When it comes to purchasing patterns,careers, higher education, financial independence
women are estimated to make 94 % of homeand a desire to build an early nest on their own,
furnishings decisions, 91 % of new homesare some of the reasons that have spearheaded
purchase decisions, and 89 % of travel decisions.this home buying trend.
Women's earnings have accelerated over the lastAmong the vast demographic spectrum in the
few years and they have emerged as the Chiefreal estate industry, women have become a
Purchasing Officers in their households. Accordingforce to reckon with. Real estate agents are
to IRS data, women constitute 39 % of the topincreasingly taking note of their female clients and
wealth holders in the country. This means aboutthe power they wield in home buying decisions. By
2.5 million women possess a wealth of $4.2 trillionthe influence that they bring into play in home
put together. Notably, the IRS estimates that bybuying decisions, women form a significant and
2050, 42 % of these women will be single orgrowing market that simply cannot be ignored.
widowed. The IRS further estimates that moreIf you are considering buying a home, condo, or
wealth is bound to be accumulated amongany other real estate, be sure to seek out the
women.services of a local real estate agent to guide you
Another growing trend that emerged in athrough this complex process.
December 2006 study by the National Association