Women are more skeptical but driven to buy a home

Women are more skeptical but driven to buy a home

NEW YORK – May 19, 2016 – A new survey indicates that women may be a harder sell than men.

However, women want to own their own homes. In fact, they want one more than men. According to the ValueInsured Modern Homebuyer Survey, 77 percent of women who don’t own a home would like to buy one compared to just 70 percent of men.

But when it comes to confidence in the value of attaining homeownership, there appears to be a significant confidence gap:

Women are less confident that the American housing market is healthy, with a confidence gap of 21 percentage points (68 percent of men vs. 47 percent of women).
Women are less confident that buying a home today is a secure and smart financial investment, with a confidence gap of 15 percentage points (76 percent of men vs. 61 percent of women).
Women non-homeowners are less confident that they can afford the downpayment on a home, with a confidence gap of 13 percentage points (42 percent of men vs. 29 percent of women)
Among homeowners, men are more confident than women that they can sell their home for the same amount or more than what they paid for it. In addition, more men (83 percent) than women (74 percent) would like to sell their current home and upgrade to a new one.

Out of those potential buyers interested in upgrading, women (69 percent) are less confident that they can afford the downpayment on that new home than men (92 percent).

The housing confidence gap between genders could be attributed to a stronger desire to avoid debt. When asked about their personal definition of the American Dream, women were more likely to cite being “debt free” while men were more likely to cite “owning my own home.”

Equation Research conducted the ValueInsured Modern Homebuyer Survey online in March 2016 among a nationally representative sample of 1,157 American adults ages 18 and older.

© 2016 Florida Realtors®

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