Single women and men are a fast-growing segment of Florida’s real estate market. In Florida, about 18 percent of transactions now involve single women and 13 percent are single men – nearly one-third of the overall market – according to the National Association of Realtors® (NAR) 2008 Buyer and Seller Survey, Florida Report.
‘Courting’ the Singles Market
From recent college graduates and young professionals to divorced parents and elderly widowers, single buyers can now be found at all age levels. There are many reasons for the growth of the singles market, including:- More women are college graduates and earn high incomes.
- Single women have greater “buying” power and access to credit than in the past.
- Many women are choosing to marry later in life – or not at all.
- More women view homebuying as a solid long-term investment opportunity.
- High divorce rates result in two separate households, both headed by singles.
Nationally, 51 percent of all U.S. adult women live without a spouse, and by 2010 Fannie Mae estimates that as many as 31 million single women will be homeowners — 28 percent of all U.S. households.
Single women are more likely to purchase an apartment, condominium or townhouse than the average buyer. However, the majority still choose detached homes.
“Most singles, especially women, are looking for a secure, maintenance-free lifestyle,” says LaShawn Norden, sales associate, Watson Realty, Longwood. “They want to spend their free time on recreational activities — not a fixer-upper.”
Older single women are also an important buyer segment – especially since Florida remains an attractive retirement destination. There are now more than 33 million Americans 65 or older, representing nearly 12 percent of the population. And by 2050, there will be approximately 6.9 million more women than men in the nation.