For a second year in a row the hispanic demographic grew in homeownership rate compared to other ethnicities. According to National Association of Hispanic Real Estate Professionals (NAHREP) the rate grew from 45.6 percent in 2015 to 46 percent in 2016.
More corporations are taking into consideration this big market represented by hispanics. They are working closely to obtain loans and keep improving the homeownership rate.
In a state like Florida where their is a strong influx of immigrants from Latin America, these reports are encouraging for real estate. More qualified buyers.
In my past blog “why 2017 will be the best year to purchase real estate”. More people are being qualified to enter the pool of buyers.
With credit remaining tight and limited housing inventory in several markets, these numbers are extremely encouraging and a testament to the economic resilience of the Hispanic community,” says 2016 NAHREP President Joseph Nery.
“As the mortgage industry continues to recognize the exceptional opportunities in serving the Hispanic market and adjusts accordingly, we expect these numbers to only improve.”
Hispanics represent 17 percent of the United States population, making people of Hispanic origin the nation’s largest ethnic or racial minority.
Overall homeownership dropped 63.7 percent in 2015 to 63.4 percent in 2016.