AgentLifestyle

All the single lady (buyers) pack a punch in the housing market

What are the interests and challenges of this homebuying demographic?
  • According to NAR's latest annual Profile of Homebuyers and Sellers, single women are scooping up property more often than their male counterparts.
  • For this group, developing savings and facing dual-income couples in bidding wars are some of the biggest challenges.
  • BHGRE president Sherry Chris recommends that this demographic select agents well-versed in the local market and well-connected in the agent community.

Selma Hepp is on the hunt for that rare thing: a small affordable house in the hot south Los Angeles market. As Pacific Union International's chief economist and vice president of business intelligence, Hepp is no slouch in knowing her financial options. And although she isn’t shopping alone, she’s also not part of the more traditional crowd who takes the plunge after tying the knot. Selma Hepp Rather, the real estate-savvy exec (whose parents joined her from Croatia a few years ago) is part of a growing surge of single women looking to become homeowners. According to the National Association of Realtors’ (NAR) annual Profile of Home Buyers and Sellers released this week, in 2016, single women were responsible for 17 percent of total home purchases, an uptick from 15 percent last year. Meanwhile, single men made up just 7 percent of home purchases despite edging out single women’s average income, $69,600 to $55,300, respectively. Hepp’s experience forging ...