The national homeownership rate increased for three consecutive quarters in 2015 for first time since 2009 and the Hispanic homeownership rate increased to its highest level since the 3rd quarter of 2012.
According to an article of Total Mortgage:
“In the coming decades we will see a rapid growth in minority households, particularly Hispanic households”.
Out of the 22 million new households from 2010 to 2030, 9 million will be homeowners. More than half of the new homeowners are likely to be Hispanic”.
Why the increase?
The Urban Institute answered that question:
“Hispanics as a group are younger and just entering the prime years for forming families and buying homes”.
If you are a young Hispanic that is planning to start a household and thinking about getting a home and starting your family, call a local real estate professional to discuss your options.