Irvine real estate is seeing a new trend. Young singles, particularly women, are among the majority of new homeowners. Actually, there was a 6 percent increase in female buyers between 2001 and 2005.
Affordability, a closeness to entertainment and nightlife, and a safe neighborhood are what the majority of young singles are searching for. Recent immigrants and minorities make up even more of the buying market. Some are purchasing condos to build equity so that they can buy a bigger home down the road. Finally, retirees and empty-nesters are downsizing and relocating to like-minded communities. They would rather live in smaller homes, close to friends and entertainment.
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