Industry News

Immigration changing face of real estate

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

An unparalleled wave of immigration over the last two decades has transformed towns and counties across the United States. Understanding this shift in demographic patterns is key for real estate agents and brokers who want to understand where new immigrant gateways are being constructed, as minorities and immigrants represent the biggest source of new home buyers in the U.S. real estate market. A report on immigration trends by the Brookings Institution Center on Urban and Metropolitan Policy reviewed metropolitan areas during the 20th century using U.S. Census data. The findings revealed that unprecedented immigration in the 1980s and 1990s transformed many established immigrant cities, or gateways, and created new ones. Immigrants comprised 11 percent of the U.S. population in 2000. During the 1990s alone, the foreign-born population grew 57 percent, bringing the Census 2000 count of immigrants to 31 million. By 2000 nearly one-third of U.S. immigrants resided outside established s...