Hispanics improve in homeownership rate.

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Hispanics improve in homeownership rate.

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.

It’s well heard of that homeownership rates are at a historical low, but this minority pushed through with the desire to own a home.

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.”

 

According to Census Bureau:

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.

At the same time, the African-American rate dipped from 43.0 percent to 42.2 percent and the Asian-American rate dropped from 56.5 percent to 55.5 percent.
Original Article from:

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=348093

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