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Single women’s big current role in Texas’ home purchase market

On Behalf of | Jun 13, 2016 | Real Estate Transactions

A person’s individual circumstances can have many impacts when it comes to efforts to purchase a home. They can affect what the person is looking for in a home purchase, what their major goals are for the purchase and what legal issues are likely to be significant ones for them when it comes to the transaction.

Thus, real estate purchases are far from one-size-fits-all in nature. They can have a great deal of variation, and having one’s individual legal needs met in connection to issues related to such transactions can be incredibly important. Thus, personalized legal advice and guidance from a skilled real estate attorney is among the things a person might want when buying a home.

A person’s individual circumstances can also impact how likely they are to seek to purchase a home. Now, there can be unique trends within the various demographic groups when it comes to personal circumstances. This is among the things that can make it so, sometimes, certain demographic groups will have a particularly active presence in a real estate market when it comes to home purchases.

Recent statistics indicate that, here in Texas, one group that has had such a presence recently are single women.

In recent times, there has been a slight decrease in how big of a portion married couples make up of overall home purchasers in the state. Additionally, it appears that, in recent times, single women in the state have had a far greater likelihood of purchasing a home than single men in the state. Specifically, data covering mid-2014 to 2015 indicates that their likelihood was double that of Texas single men.

Some of the things that have been put forward as potential contributors to the higher home purchase likelihood single women in Texas currently have in comparison to single men are the high prevalence of single mothers and increased workforce representation and economic weight for single women.

Different demographic groups can bring different kinds of concerns/considerations with them in connection to real estate purchases. What impacts do you think the current role single women are playing in Texas’ real estate market is having on the market?

Source: The Dallas Morning News, “Single women in Texas more willing to commit … when it comes to housing purchases,” Jill Cowan, May 23, 2016