Women Drive Real Estate Purchases

Women have become a crucial part of today’s economy as they are working, earning, and buying more than ever before. In fact, 85% of all consumer purchases are attributed to women. Because of this, they are a significant part of the American market, but more specifically, the real estate industry.

A 2006 study done by the National Association of Realtors (NAR) showed that 22% of the homes purchased between July 2005 and June 2006 were attributed to women between the ages of 25 and 24. 1.76 home purchases were also attributed to women, which is a 14% increase from figures found a decade ago.
When it comes to purchasing patterns, women are estimated to make 94 % of home furnishings decisions, 91 % of new homes purchase decisions, and 89 % of travel decisions.

Women are quickly emerging as the primary purchasing officers within their households, shown throughout the past few years. IRS data states that 29% of the top-wealth holders in the country are women, which equates to 2.5 million women possessing a total wealth of $4.2 trillion. Estimates suggest that by 2050, 42% of the same women will be widowed or single and that the wealth accumulated by women will only continue to increase.

Real estate agents are quickly recognizing the power of women in the market. Women are a force to be reckoned with in the real estate market and their presence cannot be ignored.

If buying a home, condo, or any other type of real estate is in your future, be sure to contact a local real estate agent who can ensure your success through this lengthy and complicated process.