According to the National Association of Realtors (NAR), single women bought their first homes at twice the rate of men in 2009, which presents a fantastic direct marketing opportunity for real estate professionals. Not only can you rent a mailing list specifically targeting this group, but also design your mailing piece with them in mind.
“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 the NAR.
The results of the survey were published in the 2009 NAR Profile of Home Buyers and Sellers.
The percentage of single-women buyers has increased from 14 percent in 1995 to 21 percent in 2009. These home purchasers account for the second largest share of adult households who purchase homes. Single females make up one-quarter of the first-time buyer population and 17 percent of the repeat buyer population.
Real estate professionals can easily design their mailing piece to reflect the demographics of this group of women.
The median age of all home buyers was 39 years old, compared to 41 for single female buyers. The single women in this survey had an average household income of $47,900 in 2008 compared to $73,100 among all home buying households. This difference in household income is not surprising as 68 percent of home buying households are couples and more likely to have two incomes.
The difference in average incomes for single women versus single men is less striking; single men earned on average $53,700 in 2008. In addition, single women are less likely to have children living at home than couples. Results from the survey show that 22 percent of single women home buyers have children at home, while 38 percent of all home buyers have children at home.
Why is this survey important for real estate agents? Because it presents a wonderful marketing opportunity. All your work has been done for you. If you rent a direct mailing list targetted directly at unmarried females age 39+, with a household income of $48,000+ without the presense of children, you will be right on targe.
Give your list broker a call today to find out how easily you can market to this group.
All the best to you with your marketing!