Statistically, single women purchase fewer homes than couples or single men, as a result of both economic and societal factors. The gap between single women and single men is only roughly 3-4%, but it’s still not negligible. Fortunately, it’s slowly shrinking, as women are beginning to have a larger share of home purchases. The percent of homes purchased by single women increased by 8.7% in Q4 2020 as compared to Q4 2019. The same statistic for single men is 4.6%. For couples, who may have dual incomes and/or better access to loans, the increase was 11.5%.
This doesn’t mean everything is great for women, though. The pandemic did disproportionately affect women, especially women of color. The industries hit the hardest were restaurants, retail, and healthcare, all of which statistically employ more women than men. What this actually demonstrates is the disparity between economic classes. Those single women who were able to buy in 2019 but held off were likely also able to buy in 2020, and simply had more incentive to purchase because of low interest rates. In some cases, these women were saving up with the intention of buying in the future, and took the opportunity to buy something less expensive to take advantage of interest rates. But those women that were struggling in 2019 definitely had no chance in 2020.