2023 NextGen Women’s Homebuyer Report
About the Report:
The 2023 NextGen Women’s Homebuyer Report is a research project developed in partnership with National MI to deliver practical insights into a key segment of today’s homebuyer population. Millennial women are the largest demographic purchasing homes independently in the US today. Many of them are single and at least half of them are heads of household. Additionally, single women make up the second largest cohort of homebuyers, more than double that of single men, who are purchasing their first home at the median age of 33 (NAR).
We may intellectually know that women make up a significant proportion of the market, but the data shows businesses are missing the mark in connecting with them. Women report feeling less trusting of housing and finance professionals, more uncertain of where to start the process, and less satisfied with their overall experience after the home purchase.
While women have made significant strides in reducing gender inequality, women still experience major disparities in financial and health outcomes. The goal of this project is to elevate the voice of young, female homebuyers and empower more professionals with some understanding of her challenges, preferences, and strategies to effectively grow in a difficult market.
Key Insights
NextGen women are significantly more stressed about their finances than men (37% vs 29%).
58% of NextGen women reported feeling confident in their knowledge about personal finances, in contrast with 69% of men.
NextGen women reported higher levels of distrust in the housing market and professionals than men.
Only 60% of Millennial and Gen Z women grew up learning about financial education, in contrast with 75% of men.
NextGen women reported significantly less access to needed financial advice and support in comparison to men (47% vs 65%).
About the Study
The report analyzes insights from a survey collected in October 2022 with 1,000 U.S. adults between the ages of 18-44, and a follow-up survey in January 2023 with 250 respondents.
Contact for Consulting or Speaking:
If you have interest in learning more about how Kristin Messerli and her team can support you in reaching NextGen homebuyers in your market, contact kristin@kristinmesserli.com.