Homeownership is an important part of the America Dream, and there is data supporting the fact that the Hispanic community has a strong desire to achieve it.
In their report “Quarterly Residential Vacancies and Homeownership, Third Quarter 2016,” the U.S. Census Bureau states that there has been an increase in the homeownership rate among Hispanics. The current rate is at 47.0%, a year-over-year increase of 0.9%, and a quarter-over-quarter increase of 1.9% (according to the last numbers reported).
Here are the numbers for 2016:
- First quarter: 45.3%
- Second quarter: 45.1 %
- Third quarter: 47.0%
As we can see, Hispanic homeownership was higher in the third quarter than it has been all year!
If you are thinking of buying a home but you are not sure if you qualify, call your local real estate professional to find out your options today.