July 05, 2012 | CREBNow
Women are Doing it for ThemselvesWomen More Likely to Purchase Home in Next Two Years
When it comes to homeownership in the next two years, women are more likely to purchase a home than men according to an RBC Homeownership Poll.
The poll found 49 per cent of women compared to 35 per cent of men are planning to buy a home in the next two years while overall, 51 per cent of women and 65 per cent of men already own a home. "We are seeing more single women entering into the housing market as income levels, changing demographics and lifestyle patterns shift purchasing habits," said Marcia Moffat, head of home equity financing at RBC. "But women are being more cautious than men, weighing cost, affordability and job security before buying a home."
Also cited were reasons homebuyers had not purchased a home before the time the poll was conducted. Men and women tied at 47 per cent saying they weren't previously able to afford a home; 23 per cent of women and 14 per cent of men said they weren't ready or interested in owning a home; 23 per cent of women and 15 per cent of men were unsure of their job security and 22 per cent of women and 14 per cent of men were saving for a large down payment.