U.S. Sees Boost in Single Women Homebuyers

Single female homebuyers outpaced their male counterparts in the fourth quarter of 2020.

Both genders saw an increase in homeownership, according to a recent report from Redfin. However, single women bought 8.7% more homes last quarter compared to the fourth quarter of 2019, while single men purchased only 4.6% more in the fourth quarter of 2020 compared to a year prior. Overall, single women represented 15.7% of all home purchases in the last quarter of 2020, up 0.4% year-to-year. Single men represented 18.1% of all homeownership, down 0.3% from a year prior. Couples represented nearly half of all home purchases at 49.4%.

Despite women losing more jobs during the pandemic, their rate of homeownership is remaining steady.

“This is another illustration of America’s uneven financial recovery,” said Redfin Chief Economist Daryl Fairweather. “While millions of women have lost their jobs during this recession, the impact has largely been on lower-income women. Meanwhile, most women who were able to afford homes before the pandemic are likely still able to afford homes, and low mortgage rates, especially at the end of 2020, have been incentivizing them to buy.”

Single men are more likely to purchase pricier homes, spending $310,000 on average in the fourth quarter of 2020, while single women spent $294,000 on their property. Given the housing market, it is not surprising that both of these are increases from the previous year, up 17% and 15% respectively. Couples spent $430,000, up 15% year-to-year.

In Pennsylvania, single female homebuyers represented 18.9% of all buyers in Philadelphia, 16.5% of all buyers in Pittsburgh and 13.9% of all buyers in Montgomery County in the fourth quarter of 2020.