Morning Briefing: Young single women are among keenest home buyers

by Steve Randall08 Jul 2016
Young single women are among keenest home buyers
A survey of millennial mortgage borrowers shows that women made up 32 per cent of primary borrowers and are more likely to be single than male borrowers.

“We are seeing a significant difference in marital status between male primary borrowers and female primary borrowers,” said Joe Tyrrell, executive vice president of corporate strategy at Ellie Mae. “When women are listed as the primary borrower on a millennial loan, 61 percent of them are single.

Conversely, when men are listed as the primary borrower on a millennial loan, only 41 percent of them are single.”

The Ellie Mae Millennial Tracker also reveals that 37 per cent new loans to millennials in May were FHAs, compared to the 23 per cent seen in a wider study of mortgage originations for the month.
Conventional loans made up 60 per cent of all millennial closed loans in May.

The average primary FICO score for female loan applicants was 723, down from 724 in March and the average age was 29.0, holding steady for the third consecutive month. The average FICO score for men remained steady at 724 and the average age was 29.2.
Middle Tennessee sales gain despite tight inventory
Home sales in the Middle Tennessee market gained by 1.7 per cent in June compared to a year earlier, despite a decline in inventory.

Greater Nashville Association of Realtors reported 3,869 sales in the month while second-quarter closings totaled 10,851, a rise of 5.8 per cent from the same period in 2015.

“Interest rates continue to hover at all-time lows making it an excellent time to purchase a home,” said president Denise Creswell. “And with solid median prices, potential sellers have a good opportunity to make a move as the inventory is needed to maintain a healthy market.”

The median residential price for a single-family home during June was $260,148, and for a condominium it was $186,495. Last year’s median residential and condominium prices for June were $240,000 and $172,500, respectively. 
Olympic gold medalist lists Washington state home
Olympic gold medal winning Hope Solo has listed her home in Kirkland, WA for $1.85 million according to Zillow.

The Seattle Reign FC goalkeeper’s estate includes a 5,330 square-foot home with 3 bedrooms, 2 bathrooms and stunning views due to its lakeside location.

As you’d expect from an Olympian’s home, there is a state-of-the-art sports court and luxurious pool and hot tub. The outdoor space also includes a 4-car garage with a wine cellar.