Tuesday, April 17, 2007

More Women Entering The Housing Market

Royal Lepage Real Estate Services released a poll today indicating that more and more women are buying and repairing their own homes. Some 30% of single never married women and 45% of divorced, seperated or widowed women are homeowners.

More younger women plan to buy their own homes rather than rent. They aren't waiting for Mr. Right to buy a home with. They also say they would forego a large wedding reception to have a bigger downpayment to put on their first home.

The poll gives regional information for Edmonton:

"Edmonton has experienced an increase in women buying real estate on their
own over the past five years and a steady rise is anticipated to continue.
Women are entering the housing market for several reasons and with different
needs: first-time homebuyers are typically 25 to 35 years old, well educated,
and are looking for a condominium or townhouse that offers security and a
maintenance-free lifestyle. Popular areas for this cohort include the District
of Oliver, Riverdale and Rossdale - attracting buyers in the price range of
$285,000 and up. Professional women looking to trade up or divorced women
entering the market have equity from their previous home. This group tends to
favour single-family dwellings in an established area such as Laurier Heights,
Stratchcona or Parkview, or conversely look to some of the brand new areas
such as Gloustenbury or MacEwan. Buyers aged 50-plus typically spend in the
range of $250,000 to $450,000."

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