Spring selling got off to a sunny start with the sales pace of existing homes hitting an 18-month high in March and NAR’s forward-looking Pending Home Sales Index showing continued improvement moving into summer. But inventory shortages and price increases continue to pose hurdles.
Home buyer demographics have shifted dramatically. The share of homes bought by single women has fallen 33 percent since 2006, while unmarried couples’ portion has jumped 36 percent. Married couples’ ownership has increased 10 percent, and single men’s share is unchanged.