In the 10 years leading up to the pandemic, Latinos accounted for more than 50% of homeownership growth, and Latinos have added 4.7 million new households—35.9% of the overall growth in household formations.
These are some of the findings from the 2020 State of Hispanic Homeownership Report, released this week by the National Association of Hispanic Real Estate Professionals. Other data points include:
- Latinos will be the majority of new homeowners for at least the next 20 years.
- Between 2020 and 2040, 70% of new homeowners will be Latino.
- Census data says Latinos are 18.5% of the U.S. population. Nearly one in three Latinos is currently in the prime home buying years of 25 to 44.
- In 2019 there were 8.3 million mortgage-ready Latinos ages 45 and under.
- The lack of affordable housing inventory remains the number one barrier to advancing sustainable Hispanic homeownership.
This information should be coming from NAR …
Thank you for this report. NAHREP did a great job compiling all the numerous data into one very informative report.