SLO County Market Update &  “WOMEN IN REAL ESTATE”

*INTERESTING FACT –

Average residential electricity rates in California have grown faster than inflation, rising by about 47% from 2019 to 2023 compared to overall growth in prices of about 18% during the same period.

WOMEN IN REAL ESTATE

In honor of Women’s History Month, we’re looking at the achievements of women in real estate. Our office is proud to have gender parity, ensuring that all voices are valued. As we reflect on where we’ve been, we recognize the industry hasn’t always been so welcoming and we’re thankful for how far we’ve come.

1848

In 1848, New York enacted the Married Women’s Property Act, which enabled women to retain ownership of their own property when they married and pass it on in wills. Up until this point, everything a woman owned (even her inheritance) belonged to her husband. Married women could not own property, enter into contracts, or even keep their own wages. Other states followed through the 1850s, but critically, these rights did not extend to women of color.

1900

By 1900, all U.S. states recognized women’s property ownership rights, but a key barrier remained: access to credit, bank accounts, and mortgages without a male co-signer.

1910

In 1908, the National Association of REALTORS® (NAR) is founded with 100% male participation. In 1910, NAR welcomes its first female member.

1923

In the home title industry, the American Association of Title Men change their name to the American Land and  Title Association (or ALTA).

1959

In California, the Unruh Civil Rights Act is passed, prohibiting discrimination in business establishments, including employment and housing.

1963

The Equal Pay Act of 1963 barred pay discrimination on the basis of sex, encouraging more women to work.

1968

The Fair Housing Act (also known a Title VIII) was enacted, prohibiting discriminatory practices in real estate based on sex, race, religion, familial status or national origin.

1973

The National Association of REALTORS® (NAR) opened membership to sales agents, allowing many women to become eligible to join.

1974

Women are finally able to finance real estate purchases without a husband or male co-signer. The Equal Credit Opportunity Act is passed, prohibiting creditors from discriminating on the basis of sex, marital status, race, color, religion, national origin, participation in public assistance programs or age.

1981

This is the first year single women purchased more homes than single men. From 1981 on, unmarried women have outpaced unmarried men in the housing market. Single women made up 24% of first-time home purchases last year, while single men made up 11%.

1992 

NAR names its first female president.

2000 

California’s Fair Employment and Housing Act was amended to explicitly include sexual orientation as a protected characteristic. This is also the year ALTA installs it’s first female president.

2005 

California amends The Unruh Act to explicitly included “sexual orientation” as a protected class.