We hear a lot about the gender gap. When we do though it usually results in an unequal result in favor of men. However, according to data from Redfin, in the fourth quarter of 2020 single women were the big winner over single men. (Redfin)
– Single women purchased 8.7% more homes in Q4 2020 than a year earlier.
– Single men purchased 4.6% more homes in Q4 2020 than a year earlier
Couples saw the biggest increase in the fourth quarter of 2020 purchasing 11.5% more homes than the same time a year ago.
Overall, couples still remain the dominant force when it comes to home purchases. In Q4 2020 they made up 49.4% of all home purchases, single men were number two at 18.1%, and single women were third at 15.7%
Redfin Chief Economist Daryl Fairweather said in a statement, “While millions of women have lost their jobs during this recession, the impact has largely been on lower-income women. Meanwhile, most women who were able to afford homes before the pandemic are likely still able to afford homes, and low mortgage rates—especially at the end of 2020—have been incentivizing them to buy.”