Single Women Bought First Homes at Twice the Rate of Men in 2009
More than twice as many women purchased a home for the first time in 2009 than men, according to a survey by the National Association of Realtors (NAR). The first-time homebuyer share of the market increased to 47% in 2009 from 41% in 2008. Single women made up 25% of all first-time homebuyers, while single males made up 12%. Married couples were 49% of all first-time buyers, with unmarried couples taking up 12%. More single women, 17%, became repeat homebuyers in 2009 than men, 8%. Married couples made up 69% of all repeat homebuyers. Unmarried couples made up 5% of repeat buyers. “Several developments during 2009, including record affordability and the availability of the first-time home buyer tax credit, drew first-time buyers to the market,” according to NAR. The West region of the US saw the greatest increase in first-time homebuyers, from 41% to 51%. The South and Midwest saw 6% and 7% increases respectively, and the Northeast had a 2% increase. The median age for the first-time homebuyer was 30, and among repeat buyers, it was 48. Despite the recession, incomes among first-time and repeat homebuyers did not change much from 2007 and 2008. The median income for first-time homebuyers increased $1,000 to $62,600. The median income for repeat buyers dropped $100 from 2008 to $88,000. Write to Jon Prior.