Recently, the National Association of Hispanic Real Estate Professionals (NAHREP) released ‘The State of Hispanic Homeownership Report 2015’. In this report, they “focus on the household formation rates and the homeownership growth of Hispanics as well as their educational achievements, entrepreneurial undertaking, labor force profile, and consumer purchasing power in the United States”.
Every Wednesday of this month, we are going to focus on highlighting some of the most outstanding points we found in this report. Today we are going to focus on the homeownership numbers.
In 2014, there was a net increase of 245,000 Hispanic owner households, accounting for 69% of the total net growth in U.S. Homeownership.
According to the Census, between the fourth quarters of 2014 and 2015, the rate of homeownership for Hispanics surged by more than 2 percentage points (from 44.5% to 46.7%).
As the report mentioned, “while the annual average gain in net owner household in 2015 is impressive, the 2% surge represents a remarkable increase of 531,000 net new owner households”. These levels have not been reached since 2005.
Will this number continue increasing?
The report mentioned that, “Since 2000, Hispanics have accounted for 52% of the growth in U.S. homeownership. Over the past 15 years, Hispanics achieved a net gain of 2,847,000 homeowners, from 4,242,000 in 2000 to 7,089,000 in 2015, a growth rate of 67% ”.
If you are at Hispanic just starting to form a new household, what better way to start it than owning your own home! Call your local real estate professional and see what options are available for you.