In Business / February 2007
Home Economics
Single women were once a very small home buying minority, the descriptive disclaimer on the purchase documents, “femme sole” intended as a legal notice that no breadwinning husband was part of the deal. But, real estate agents, sellers and financial services industries are courting the ladies now.
A November survey from the National Association of Realtors showed the percentage of single female home buyers has increased to its highest level ever. In 2006, twenty-two percent of all home purchases were completed by single females, up from 21% in 2005 and up 14% from 1995. In comparison, single males accounted for 9% of home buyers, unchanged from last year.
The new homeowners have been an unexpected boon to the home improvement chains, too. They have responded to women’s requests for how-to information on handling their own repairs and remodeling.
Ten years ago, growth in the marketplace was in do-it-yourself projects. Today, the home improvement industry experts have a new focus–Do It Herself. Hammers and screwdrivers are available with floral porcelain handles. Socket sets are color coded in candy-apple red, lime green, and hot pink. The Tractor Supply Store has an aisle devoted to stuffed animals and toys.
Many women think of themselves as homebodies, but as homeowners as well, the purchasing power of the femmes sole has become très formidable.
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