All the single lady (buyers) pack a punch in the housing market
November 3, 2016
Selma Hepp is on the hunt for that rare thing: a small affordable house in the hot South Los Angeles market.
As Pacific Union’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 take the plunge after tying the knot.
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’ annual Profile go Home Buyers and Sellers released this week, in 2016, single women were responsible for 17 percent of the 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 through bid battles without the support of dual income – and the challenge of finding the right agent- gives insight to what this particular buyer demographic faces to find “the one”.
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