Homeownership growing among Hispanic people
By NAPS on Sep 17, 2013, at 11:28 AM
Real Estate
Local Realtors join real estate companies.
As the housing market bounces back in many parts of the country, you may be wondering: What’s my home worth now?
The demographic portrait of the U.S. — particularly its urban centers — is changing.
That’s the word from the experts at the Brookings Institution who report that in the period 2000 to 2010, nonwhites and Hispanics accounted for 98 percent of population growth in large metro areas of the U.S.
According to William Frey, author of the Brookings report, “The New Metro Minority Map: Regional Shifts in Hispanics, Asians and Blacks from Census 2010,” growing Hispanic populations are driving demographic shifts in major American cities.
He observed that during that decade, 29 of the 100 largest metro areas more than doubled their Hispanic populations.
Hispanics are also the fastest-growing group of first-time home buyers, according to the “2012 State of Hispanic Homeownership Report” published by the National Association of Hispanic Real Estate Professionals.
The uptick reported in Hispanic first-time homeownership is consistent with what may be a general market trend.
According to Rick Davidson, president and CEO of Century 21 Real Estate LLC, “The market is still presenting opportunities for first-time buyers.”
He also observed that according to the National Association of Realtors’ April “Existing-Home Sales” report, pricing for sellers has trended upward for 14 consecutive months.
Real Estate
Local Realtors join real estate companies.
As the housing market bounces back in many parts of the country, you may be wondering: What’s my home worth now?
