International

Realtor University to study homeownership among Asian immigrants

Asian-Americans to be 'large source of future housing demand'

The research arm of a university established last year by the National Association of Realtors has partnered with a trade group focused on boosting Asian-American homeownership to study how real estate impacts Asian immigrants. As part of an agreement, the Chicago-based Realtor University Center for Real Estate Studies and the 13,000-member Asian Real Estate Association of America (AREAA) will explore how Asian immigrants use their homes and businesses to leverage and grow wealth and develop a greater understanding of housing market preferences among Asian immigrant groups, according to an announcement today. There are nearly 19 million Asian-Americans nationwide and they are the fastest growing racial or ethnic group in the U.S. Asian-Americans will be a "large source of future housing demand" though their current homeownership rate (55 percent) lags behind that of the total population (65 percent), Realtor University and AREAA said. The two nonprofits expect the research pr...