“The Latino community is massive, and it’s ready to own.”
Hispanic ownership rate up for first time in 6 years In another sign of a real estate recovery, the Hispanic homeownership rate increased from 44.5% in December 2014 to 46.7% in December 2015
The Hispanic Wealth Project and the National Association of Hispanic Real Estate Professionals (NAHREP), recently released the State of Hispanic Homeownership Report. According to the report, Hispanic homeownership rate averaged 45.6 percent last year, up 0.2 percent from 2014. However, a comparison of year-to-year December numbers found that the rate surged from 44.5 percent in 2014 to 46.7 percent in 2015 – the biggest one-year gain in over a decade.
David Stevens, President and CEO of the Bankers Association noted, “The Latino community is massive, it’s ready to own.” He added that “The significance of Hispanics to housing and the economy will only grow, creating opportunity for all who focus on this vibrant, dynamic and impactful part of the U.S. economy.”
It is in everyone’s interest to ensure that across the nation Hispanic consumers have access to relevant lending products, affordable housing stock, and culturally competent service providers.