NAHREP Releases State of Hispanic Homeownership Report, Finding Hispanic Homeownership Rate Increased Again
Industry benchmark report finds that Hispanics achieved a net gain of 277,000 homeowners in 2019, raising the Hispanic homeownership rate to 47.5 percent.
SAN DIEGO, April 7, 2020 /PRNewswire-PRWeb/ -- The National Association of Hispanic Real Estate Professionals® (NAHREP®) today released the 2019 State of Hispanic Homeownership Report, a key asset in the organization's goal of improving public awareness and increasing industry investment in the Hispanic housing market. The 2019 State of Hispanic Homeownership Report was produced by NAHREP with contributions from the National Association of Home Builders (NAHB) and Urban Institute.
The annual State of Hispanic Homeownership Report plays an important role in noting principal trends in the burgeoning Hispanic housing market and serves as a key informational resource for policymakers and industry stakeholders.
"Strong gains in household income coupled with an overwhelming drive for homeownership has led to five consecutive years of Hispanic homeownership growth," said Gary Acosta, NAHREP Co-Founder & CEO. "The youthfulness, work ethic and resilience of the Hispanic community will play a critical role in the revitalization of America's post-pandemic economy."
The 2019 State of Hispanic Homeownership Report found that:
- 2019 marked the fifth consecutive year of increases in the Hispanic homeownership rate, the only demographic with five consecutive years of gains.
- Hispanic homeownership grew the most in Houston, TX, Dallas, TX, New York/Jersey City, NY/NJ, Riverside/San Bernardino, CA and Phoenix, AZ.
- In 2018, Hispanics injected $371 billion into the economy through the housing market alone, more than tripling their contributions since 2000.
- The outlook for continued homeownership growth is compelling with more than 4.9 million Hispanic millennials with the credit characteristics strong enough to qualify for a mortgage.
In its tenth year of publication, the 2019 State of Hispanic Homeownership Report includes an in-depth review of Hispanic purchasing patterns, buyer nuances and geographic concentrations. The report is available for download at nahrep.org/shhr.
About NAHREP:
The National Association of Hispanic Real Estate Professionals (NAHREP®), a nonprofit 501(c)6 trade association, is dedicated to advancing sustainable homeownership for the Hispanic community in America. NAHREP has over 40,000 real estate professional members and 100 local chapters nationwide.
Press Contact:
Katherine Wood
NAHREP
(619) 719-4814
[email protected]
SOURCE NAHREP
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