The Impact of Women on the Real Estate Market

Part of the reason for the real estate boom we’ve been experiencing for the past decade or more is a direct result from more women buying homes and condos on their own than ever before. This has changed the marketplace touching every factor from banking & mortgages to the renovation home décor industries.

It used to be common that women didn’t buy their first home until they were married and then bought together with their husbands. But society is forever changing and there have been drastic changes in ours in a relatively short period of time.

Women have empowered themselves and the marketplace has recognized this growing sector and has scurried to cater to the demand. The trickle effect is enormous – there’s no single factor that can take the credit but the result has to be recognized. Mortgages have become more flexible and easier to obtain as banks loosen their formulas for determining eligibility.

This demand has helped shape the condo market as more buyers are asking for smaller places. With women moving out on their own and not waiting for marriage before purchasing the need for smaller more affordable starter homes has grown. Couple that with the low interest rates we’ve been enjoying and it has been a huge factor in fuelling the boom of recent times.

Demographics have changed in general with our population aging and our birth rate slowing; the immigration that has brought so many newcomers from all over and add women to that to the mix and it helps understand how this boom has been one of natural growth and economic stimulus – very different driving factors from the boom & bust of the 80’s.