Despite a steady rate of homeownership overall, the National Association of Home Builders reports that the U.S. saw a drop in minority homeownership during the first three months of 2019.
The “all minority” homeownership rate, which includes black, Hispanic, and Other households(Asian, Pacific-Islander, Native American, and other race households) stood at 47.1 percent in the first quarter of 2019, down from 48.0 percent in the first quarter of 2018 (Figure 1). It also slipped from its level in the fourth quarter of 2018 (47.7 percent).
Breaking down the ‘all minority’ homeownership shows that all groups lost ground in the first quarter compared to the same period last year (Figure 2). The black non-Hispanic rate fell by the most, dropping 1.3 percentage points to 41.8 percent. The Hispanic homeownership rate fell by 1.0 percentage point to 47.4 percent, while the Other non-Hispanic homeownership rate fell 0.7 percentage points to 56.3 percent. In contrast, the white non-Hispanic household rate gained 0.7 percentage points in the year ending in the first quarter to reach 73.2 percent.