Lexington real estate is experiencing a new trend. Young singles, in particular women, make up the majority of new homeowners. Actually, there was a 6 percent jump in female homeowners between 2001 and 2005.
The majority of young singles are looking for safe neighborhoods, close proximity to entertainment and nightlife, and affordability. More of the buying market consists of recent immigrants and minorities. Some are purchasing condos to build equity so that they can purchase a larger home down the road. Finally, retirees and empty-nesters are downsizing and migrating to like-minded communities. They are through with gigantic houses and would rather live in smaller homes, close to friends and entertainment.
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