NAHREP is celebrating the release this week of 2021 homeownership data from the US Census Bureau’s Current Population Survey / Vacant Homes 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.

SAN DIEGO, February 3, 2022 /PRNewswire-PRWeb/ — The National Association of Hispanic Real Estate Professionals® (NAHREP®) celebrates the release this week of 2021 homeownership data from the US Census Current Population Survey/Housing Vacancy Survey Office. 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. This trend underscores the critical hurdles Latinos face in the marketplace: Latinos are overwhelmingly concentrated in areas of the country with the most acute housing shortages, first-time buyer loan products such as Federal Housing Administration (FHA) have encountered historic barriers, especially for those who are self-employed, the real estate industry lacks representation and diversity reflecting its consumer base, and Latinos remain the most underinvested demographic group today. today.

“While the data shows that 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,” said Gary Acostaco-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, 2022at the 2022 NAHREP National Convention and Housing Policy Summit.

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In 2020, the US Census Bureau’s Current Population Survey/Housing Vacancy Survey was compromised as changes in methodology and a significantly lower number of responses resulted in unusually higher homeownership rates across all demographic groups. Given these challenges, NAHREP analyzed homeownership trends from 2019 to 2021 to offer a more accurate analysis. For more information from the US Census Bureau on the impact of the pandemic on data collection in 2020, see their Source and Accuracy documentation.

About PNARSA
The National Association of Hispanic Real Estate Professionals® (NAHREP®), a 501(c)6 nonprofit trade association, is dedicated to advancing sustainable homeownership for the Hispanic community in America. NAHREP has a network of over 40,000 real estate professionals and 100 local chapters nationwide, hosting several national events a year and publishing several seminal industry reports each year. Join us in advocating for policies that promote sustainable homeownership among Latinos, read our policy priorities for 2021 here. Also check out the NAHREP Hispanic Homeownership by Congressional District Tool, which measures Hispanic homeownership by U.S. congressional district, allowing voters, advocates, policymakers, and credit and housing professionals to assess homeownership performance. district at a glance. Watch the short film on Hispanic Homeownership.

Press contacts:
Catherine Wood
NAHREP
[email protected]
(619) 719-4814

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SOURCE PNARS