Survey: Women Are a Tougher Sell Than Men
DAILY REAL ESTATE NEWS | WEDNESDAY, MAY 18, 2016
Women buying homes may need more reassurance and confidence in a real estate transaction than men, according to ValueInsured’s Modern Homebuyer Survey, which uncovered a housing confidence gap between genders.
Women show more desire to buy a home than men, but they may still be more hesitant to sign on the dotted line. Seventy-seven percent of the women surveyed who don’t own a home say they want to buy, compared with 70 percent of men, according to the survey.
Closing the Gender Gap?
But women are less confident that the housing market is healthy (47 percent of women versus 68 percent of men). Women also are less confident that buying a home today is a secure and smart financial investment (61 percent of women versus 76 percent of men).Women who don't currently own are less confident than men that they can afford the down payment to purchase a home (29 percent of women versus 42 percent of men).
The survey found that men are more confident than women that they can sell their home for the same amount or more than what they paid for it. Also, more men than women would like to sell their current home and upgrade to a new one (83 percent of men versus 74 percent of women).
Researchers attribute the confidence gap in housing between the genders as women’s tendency to be more debt-averse. Women were more likely than men to cite being “debt-free” when asked about their personal definition of the American dream. Men tended to more often cite “owning my own home.”
“Understanding these differences in attitudes will help make this year’s home buying season successful for both sellers and lenders,” says Joe Melendez, CEO of ValueInsured. “The numbers highlight the need to ensure that all buyers, and especially women, know about the new ways they can protect their hard-earned investments when buying a home.”