Page 15 - Scene Magazine 41-03 March 2016
P. 15

Real Estate Scene
By KAthy PERREtt
The National Asso- ciation of Realtors® suggests that single women will be a growing demograph- ic when it comes to homebuyers in 2016.
Single women buy- ers have made up a larger share of
the housing market than their male coun- terparts since the early 1990s, buying at nearly twice the rate. These women have a strong desire to feel settled and be part of a community and do not believe that mar- riage is a prerequisite to homeownership.
According to NAR’s 2015 Profile of Home Buyers and Sellers, single women accounted for 15 percent of all home buy- ers; many believe that number will increase in the next few years. Women buyers had a median age of 50, 72 percent purchased detached single-family homes and 90 per- cent used a real estate agent or broker to guide them through the purchase process.
Here are some reasons why single women are set to take the 2016 real estate market by storm:
Desire to Own. Thirty-seven percent of unmarried female homebuyers said that the desire to own their own home was their pri- mary reason for purchasing a house. Wom- en are the most likely to make sacrifices, like cutting spending on entertainment or luxury items, to afford purchasing their home. This demonstrates just how high a priority they place on homeownership.
Rising Incomes. In large cities across the country, women have seen a significant rise in average income the past few years. Traditionally, single female homebuyers have had to stretch their budget to buy a home. Now, with higher incomes, these unmarried women can enter the housing market without taking on as much of a fi- nancial burden.
2016 is All About the single ladies
Availability of Housing. According to NAR research, single women typically purchase single-family homes with three bedrooms and two bathrooms; the same properties usually targeted by investment buyers. It’s good news that over the last year, people buying homes strictly as in- vestment properties were not as active in
the market. If investors continue to back away from the market, that means housing could become even more affordable for single buyers in 2016.
Contact the Battle Creek Area Associ- ation of Realtors®, (269)962-5193 or visit http://bcaar.com to connect with a Realtor® about buying a home in 2016.
Calhoun County’s ONLY Authorized Armstrong Dealer
THE YELLOW TRUCK PEOPLE
269-963-7910 • 466 Main St. Battle Creek, MI simselectricinc@hotmail.com • www.simselectricinc.com License # Electrical – 6112007 • License # Mechanical – 7103902
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