Five Things You Need to Know About U.S. Hispanic Homeownership
Each year, Americans observe National Hispanic Heritage Month from September 15 to October 15, by celebrating the histories, cultures and contributions of those whose ancestors came from Spain, Mexico, the Caribbean and Central and South America. With over 120,000 agents in more than 100 countries and territories, the RE/MAX network is diverse, as are the hundreds of thousands of families our agents help buy or sell a home each year.
RE/MAX is proud to partner with the National Association of Hispanic Real Estate Professionals (NAHREP), a purpose-driven organization with a mission to advance sustainable Hispanic homeownership. NAHREP educates and empowers real estate professionals who serve Hispanic home buyers and sellers, advocates for public policy and facilitates relationships among industry stakeholders.
NAHREP, along with the Hispanic Wealth Project, annually produce the State of Hispanic Homeownership Report which highlights Hispanic purchase power and provides insight into what factors contributed to the story of the Hispanic homeownership in the U.S. over the past year. Some highlights from this year’s report include:
- Hispanics are the only demographic to have increased their rate of homeownership for the last three consecutive years. In 2017, almost 7.5 million Hispanics owned a home.
- Hispanics are projected to lead U.S. household growth, adding 6 million additional Hispanic households by 2024.
- The largest home price gains in 2017 were in California, Idaho, Nevada, Utah and Washington, all of which, coincidentally, have substantial and growing Hispanic populations.
- Most Hispanics believe that owning a home is a good investment long term.
- Hispanics are 74 percent more likely than non-Hispanics to be influenced by their children to make a purchasing decision.