As per the changing trends in the real estate markets and the US economy, the
view point of the current buyer is also changing when compared to a traditional
buyer. According the data available at National Association of Realtors, apart
from married couples who have always been the largest chunk of buyers, a sharp
increase has been recorded in the percentage of single women and individuals
from ethnic community buying houses. This data indicates that while 9 percent of
single men purchased homes, the percentage of single women becoming homeowners
was 22 percent last year.
As per the Census Bureau Data, 51 percent of the all American adult women are
living single. These women have become financially independent and they have
started diverting their income towards investment. Nowadays, women have self
belief, are confident about their abilities and have become more interested
towards building up their finances. Due to these reasons, an increased ratio was
observed with single women investing in real estate markets.
According to Pat Vredevoogd Combs, President of National Association of
Realtors, the market has also started encouraging this trend amongst single
women. More flexible mortgage loans are made available to these women allowing
them to become homeowners.
Vredevoogd says, apart from single women, foreign nationals and minority
groups including Hispanics, African-Americans and Asians have also shifted their
interests to investing in the real estate market. They are also showing keen
interest in changing market rates and are investing to a significant extent to
become house owners.
According to Janet Branton, vice president of business specialties of NAR,
the total investment in the US real estate market from foreign country buyers
has been $51 million. As per the current indications, this trend will increase
in the future with more and more wealthy foreign nationals being eager to own a
home in the US.
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