A surge in purchasing power, entrepreneurial drive and significant income gains have led one -- and only one-- American demographic to defy national homeownership trends. Hispanics, who make up 18 percent of the total U.S. population, achieved a notable 2-percentage-point homeownership increase (from 44.5 percent to 46.7 percent) between the final quarter of 2014 and the end of 2015. A comprehensive report by the National Association of Hispanic Real Estate Professionals (NAHREP) explains how this came to be and why. Yearly and quarterly Census data demonstrate that the national homeownership rate has been decreasing slowly, and the homeownership rate for all major population groups (save Hispanics) declined by around 1 percentage point last year. However, 2015 mark...
- 2015 marked the fifth consecutive year that Hispanic homeownership has been on the rise, with 245,000 new owner households entering the market during the year, and a remarkable 531,000 total if you add in Q4 2014.
- Even with Hispanic housing market trends on the up and up, the numbers show that much of this group's homeownership potential remains untapped.
- The Hispanic population is growing the fastest in the country's Midwest and Southern regions, where the percentage of Hispanic real estate agents is significantly smaller than the country's already-low 7 percent average.
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