Key Highlights
- According to Urban Institute, more women becoming homeowners than ever before
- Women also generating higher credit scores
- Today, only 53% of first-time buyers are married, according to the National Association of REALTORS® (NAR)
Not only are more couples waiting later in life to become homebuyers, more women are relying on themselves to purchase their first homes.
New Free Webinar Shows You The 12 Secrets Of Real Millionaire Agents. Stop Struggling. You Can FINALLY Laugh At Your Money Worries – If You Follow This Simple Plan. Learn How To Generate 100’s of Motivated Leads Without Coming Off As A Pushy Salesperson and Losing Your Soul. Learn Now How To Become One of the 1000s of Agents Making HUGE Money Who Never Thought They Could.
YES, I Want To Attend The FREE Webinar! <——Click To Register
P.S. Free Webinar, Limited Space. Less Than 300 Spots Still Available.
A recent report from Compass and Better.com indicates that women were moving into their first homes more than ever before. Compass agents said that 58% of their clients were women who were either the sole or prime buyer or seller. Single women, according to 71% of Compass agents who were surveyed for this study, are also entering the home-buying pool earlier than single men. In all parts of the housing industry, home-buying women grew from 15% in 2017 to 18% in 2018, according to NAR.
Among married women, 80% of Compass agents reported they’ve seen an increase in the number of women co-borrowers who earn more than their spouses. That average monthly salary, according to Better.com, indicated that the average monthly salary for a woman was $5,666 compared to a man’s monthly salary of $3,035. Better.com also indicated that one in three women who secured mortgage financing did not put their spouse on the loan application.
Better.com indicates that 23% of its borrowers in 2019 were women. Additionally, Better.com reports that the average credit score for women in 2019 was 770 despite the fact that women are denied for mortgage financing than man, according to the Urban Institute.
For comparison purposes, NAR indicates that during the 1960’s more than one in seven homeowners were married and in the 1980’s, 75% of first-time buyers were married. Today, 53% of first-time homebuyers are married.
Thanks to HousingWire’s Julia Falcon, Better.com, Compass, NAR and the Urban Institute for source data.
Also read: How Multi-Family Properties Vary by Size & Mortgage Financing NAR’s Snapshot of January’s Housing Market, Economists Say 2020 To Side Step Recession
