In 2016, the White homeownership rate remained flat, and the Black and Asian homeownership rates decreased. Hispanics, though, bought more houses.
HousingWire reports that Hispanics accounted for 74.9 percent of the net growth in homeownership from 2015 to 2016. The group’s ownership rate improved from 45.6 percent to 46 percent in that time frame, and last year Hispanics represented 38 percent of all new household formations.
Between 2010 and 2016, Hispanics made up 76.4 percent of the growth in the U.S. labor force, according to the site. These findings were made public at a recent conference held by the National Association of Hispanic Real Estate Professionals in Washington, D.C.
“Hispanics are leading in population growth, household formations and workforce participation,” NAHREP Executive Director Marisa Calderon said. “They consistently rank owning a home as the best place to raise a family. So, they are an increasing share of the population and have the means and desire to purchase a home.”