Looks like we’re in for some sunny and warm weather over the next few days — the perfect conditions for the San Francisco Open AVP Beach Volleyball Tournament taking place now through Sunday, July 8 on Pier 30/32, the Embarcadro. Admission is free. If you’d rather stay indoors, and you’re a holder of a Bank of America or Meryl Lynch credit or debit card, you can take advantage of free admission to the de Young, Legion of Honor, and Contemporary Jewish Museum. It’s the first full weekend of July, and so it’s a Bank of America Free Museum Weekend. Click here for details.
On the “Homes for Sale in San Francisco” front, here’s our report for this week, 7/1/18 – 7/7/18
The Rise of the Older, Single Female Home Buyer
Since 1981, single women over 55 have been the fastest-growing demographic of home buyers when compared with a multitude of other categories, according to a recent Wall Street Journal report, citing an analysis of U.S. Census Bureau data by Ralph McLaughlin, founder and chief economist at Veritas Urbis Economics in Alameda, Calif.
Married couples are by far the largest group of home buyers, and single women the next largest group. But last year, single, older women made up 8.2% of all home buyers, roughly double the percentage of 20 years ago, Mr. McLaughlin says. These women also buy homes at nearly twice the rate as their male counterparts.
There have long been many more older single women than men, reflecting the fact that men remarry at a higher rate after a divorce, as well as the fact that men generally die at younger ages. But the dramatic increase in home purchasing by older women speaks to something else.
Many women in this place in life want to own a home of their own, says Jessica Lautz, director of demographics and behavioral insight for the National Association of Realtors. Ms. Lautz also notes that longer average lifespans — and people working until later in life — are giving older buyers across the country the confidence to take on a 15- or 30-year mortgage.
The fact that this trend is taking place is not surprising, but it is certainly worth noting.