2021 Annual Housing Census Data Confirms Continued Rise in Homeownership Rates Among Latinos – RISMedia
The National Association of Hispanic Real Estate Professionals® (NAHREP®) this week released an analysis of 2021 homeownership data from the US Census Bureau’s Current Population Survey/Housing Vacancy Survey. The data shows that Hispanic households have been on an upward trajectory in 2021 despite one of the toughest housing markets for first-time buyers in history.
In 2021, the homeownership rate for Hispanics increased to 48.4%, adding a total of 657,000 new Hispanic homeowner households since 2019. Additionally, Hispanics added 1,025,000 net new households, which accounts for 27% of the growth in household formation over the past two years.
While Latino homeownership gains were positive, they trailed the overall market for the first time in three years, NAHB noted. This ten-employee, real estate industry lacks representation and diversity reflecting its consumer base, and Latinos remain the most underinvested demographic group today.
“While data shows Latinos will account for the super majority of homeownership growth in the United States, the Latino market remains the most undercapitalized segment of the housing economy,” Gary said. Acosta, co-founder and CEO of NAHREP.
For a comprehensive breakdown and analysis of Hispanic homeownership trends, the National Association of Hispanic Real Estate Professionals will release its 2021 State of Hispanic Homeownership Report on March 16, 2022. to National Convention and Housing Policy Summit 2022.