All the Single Ladies (Are Buying Homes)

All the Single Ladies (Are Buying Homes)

It doesn't come as a huge surprise that the largest share of home buyer households is married couples. In fact, 67 percent of all home buyers are married couples. The second most common group of buyers, however, is single females. According to the 2016 National Association of REALTORS® Home Buyer and Seller Generational Trends report, single females make up 15 percent of all home buyers, and this number creeps up when looking at older buyers—20 percent of buyers between 51 and 60 years of age and 19 percent between the ages of 61 and 69 are single females. These percentages are substantially higher than those for single males, who only make up 9 percent of all home buyers; the share of single made buyers is even lower in older age groups, only 10 percent of buyers between 51 and 60 are single males.

Story Springboard

Review NAR's most recent Home Buyer and Seller Generational Trends study to see the makeup of home buyers for each age group. Talk to a Realtor® to find out who is buying homes in your area. Speak with single female buyers to find out why they are purchasing a home now and what they are looking for.

Highlights -  Home Buyer and Seller Generational Trends

• At 35 percent, buyers 35 years and younger continue to be the largest generational group of home buyers with a median age of 30 years old.
• First-time buyers made up 32 percent of all home buyers, down from 33 percent last year.
• Sixty-seven percent of buyers 35 years and younger were first-time buyers, followed by buyers 36 to 50 years at 26 percent.
• The most common type of home purchased continues to be the detached single-family home, which made up 83 percent of all homes purchased.
• Eighty-nine percent of Millennials, 87 percent of Gen X buyers, and 85 percent of Younger Boomers purchased their home through an agent.

Thinking about buying a Home? Better have all your ducks in a row.

“With the housing market beginning to level off here in Phoenix area, many people feel that now is the time to invest in a home, weather your a 1st time buyer or just moving up.

Have you been online looking at homes, driving neighborhoods checking out open houses. Then I am sure you have realized that homes are flying off the market, homes are moving fast here in Phoenix. So you better have all your ducks in a row.

Are you confused about how to started lining up those ducks or have a few simple questions?

 One of the first to-dos in the home buying process is to get your finances in order and get a pre-approval from a lender.  Start shopping for your loan.  This will take the guess work out, you will know exactly what you are qualified for and that you ARE qualified.  
Putting you ducks in a row.  Finding the right loan and lender is very important to your home buying success. I always suggest speaking with at least three lenders before you decide which loan to take. You may be surprised!

A mortgage broker looks at several different loan companies to find you the best interest rates and programs out there.  However, your small local bank or your credit union may have options as well that will save you money.  

The lender will perform an extensive check of your finances including your credit rating, whether or not you're a first-time buyer, what your debt load is, how much money you have to put as a down payment, etc. This figure will be a much more reliable estimate of what you can afford.

In most markets, pre-approved buyers are preferred over those that are merely pre-qualified. Being pre-approved lets the seller know you have gone through an extensive financial background check and there should be no unexpected obstacles to you buying their home. After finding a loan with the correct terms you can begin shopping for a home. NOW that putting you duck in a row.  

 

​

Linda G. Wieczorek ABR,CNE, CSSN,SRES^®
REALTOR®,  602-391-8246
Arizona Elite Properties /AZPrideProperty.com
Search Arizona MLS  Home Search
Reviews & Video Testimonials