In March 1987, Congress passed a resolution designating March as Women’s History Month. This annual observance provides an opportunity to honor and commemorate the remarkable contributions, achievements, and challenges faced by women throughout history.
During Women's History Month, it's important to recognize the significant strides women have made in the realm of homeownership despite numerous obstacles. We're witnessing a growing number of women becoming homeowners, with single women notably impacting the housing market. However, it's crucial to acknowledge that gender disparities persist, particularly affecting women of color who often confront intersecting forms of discrimination. Addressing these disparities is essential to ensure equitable access to homeownership and financial stability for all women.
Owning a home has traditionally been viewed as a primary avenue for American families to accumulate wealth. Therefore, it is essential for us to delve into the trends of homeownership rates, the direction they are taking, and who is benefiting from these trends, as well as who may be left behind.
In 2024, we commemorate the 50th anniversary of the passage of the Equal Credit Opportunity Act, a milestone legislation alongside the Fair Housing Act, which significantly expanded access to the housing market for single women. Since 1981, when the National Association of REALTORS® Profile of Home Buyers and Sellers report was first introduced, single women have consistently outpaced single men in the housing market, trailing only behind married couples in terms of homeownership rates.