From 2012 to 2022, homeownership among Americans increased significantly, with rates consistently growing across all racial and ethnic groups. But a new report titled "Snapshot of Race and Home Buying in America" from the National Association of Realtors (NAR) finds that during this period certain minorities made more significant gains in homeownership than others.
The report examines homeownership trends within U.S. racial and ethnic groups and also looks at obstacles to buying a home, such as discrimination and affordability. While the study shows homeownership among all racial and ethnic groups rose (from 63.9% to 65.2% between 2012 and 2022), some groups stand out as having made greater progress toward homeownership during that time.
Asian Americans have witnessed the most pronounced increase in homeownership, with a remarkable gain of 6.1% - 1.5 million more Asian homeowners compared to 2012.
The Hispanic homeownership rate has seen an increase of 5.4 percentage points – 3.2 million additional Hispanic homeowners – compared to 2012. ...
Black homeownership rate increased by 1.6 percentage points during the same period, resulting in nearly 950,000 more Black Americans transitioning to homeownership.
Advertisement
Related Stories
Design
What Gen-Z Buyers Really Want in a Home
The fervor of planning for Millennials in the home building industry has now pivoted to Gen Z. So, what does this new generation want?
Demographics
Post-Pandemic Trends: Working From Home
A greater share of workers are still working from home than before the pandemic and they're concentrated in the information, professional, and financial services sectors
Demographics
Millennials on Top Again as Largest Homebuying Group
Millennials beat out Boomers as the largest homebuying cohort, according to a recent report, but Boomers remain the largest generation of home sellers