The profile of the American homebuyer is changing, with women now making up a larger share of the market. According to recent data from the National Association of Realtors, married couples account for just 62% of home purchases today, down from 73% in 1973. Meanwhile, single women now represent 20% of all homebuyers, a notable increase from 11% five decades ago.
A key turning point came with the passage of the Equal Credit Opportunity Act of 1974, which allowed women to apply for mortgages independently, without needing a male co-signer. This landmark change, along with greater access to education and financial independence, has empowered more women to pursue homeownership on their own terms.
For many women today, homeownership is a personal, long-term investment, pursued independently of marriage or family plans. Single women buyers now span a range of ages, from young professionals to retirees, often seeking smaller, more manageable homes in safe neighborhoods with good amenities.
In addition to this shift, the median age of homebuyers has risen to 56, with first-time buyers now averaging 38 years old. These demographic trends reflect the broader challenges in today’s housing market, including rising affordability concerns and a limited inventory of homes.
This post was based on information found on Puget Sound Business Journal.
