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Report Explores US Homeownership Trends, Finds Minorities Making Gains

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Report Explores US Homeownership Trends, Finds Minorities Making Gains

A new National Association of Realtors report finds Asian Americans and Hispanics have made the greatest gains in homeownership over the past decade

February 22, 2024
Hispanic family in front of home sale/sold sign
Image: Andy Dean / stock.adobe.com

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.

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