Irvine real estate is experiencing a new trend. Young singles, in particular women, make up the majority of new homeowners. In fact, there has been a 6 percent rise in female buyers between 2001 and 2005.
Most young singles are looking for a safe neighborhood, close proximity to entertainment and nightlife, and affordability. Recent immigrants and minorities make up more of the buying market. In order to build equity so that a larger home can be obtained, many are starting off with condos. Finally, retirees and empty-nesters are downsizing and head towards like-minded communities. They want to live in smaller homes, close to friends and entertainment.
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