Don’t underestimate the power of a woman, especially a single one. Is it a surprise that 2 out of the last 5 homes that we’ve built are for single women? It’s not to us. While the housing industry and real estate market are slowly making a come back, there is one stat that we can’t ignore and that is the growing segment of single-women customers.
According to National Association of REALTORS, in 2009, first-time homebuyers were composed of 25% single women, second to married couples. Single men accounted for 12% of the sales.
The appeal of purchasing a new home for a woman is that they can customize it to suit their needs. Women, as a rule, don’t want to deal with repairs, especially if they work full time and have any type of a social life.
According to Martha Barletta, the author of Marketing to Women: How to Understand, Reach, and Increase Your Share of the World’s Largest Market Segment, women make or direct 91% of home buying decisions.
- Women make up 75% of the decisions about new homes.
- Women initiate 80% of all home improvement purchasing decisions, especially the big ticket items such as kitchen appliances, cabinets, flooring and bathroom.
- More women (15.5 million) than men (11.8 million) lived alone. Among these, women were more likely than men to own their homes (56% vs. 47%).
“Women are educated, well-organized, know what they want and are qualified to buy a new home.” Stated Mark Wall, President/Co-owner of Home Construction, Inc. “They come into our office with their ideas written down and pages from magazines that they’ve saved for years. All of this helps to make our meeting go a lot smoother.” Wall stated.
Darryl Harvey, Vice President/Co-owner of Home Construction, Inc. and a real estate broker for over 20 years, summed it up by saying that his female clients really take their time before they make a big decision. “When they come to me to buy or ask about building a home, I know that they have done their homework and are personally, financially and emotionally ready.”
All the single ladies, all the single ladies
Now put your hands up
Oh, oh, oh, oh, oh, oh