From GlobeNewswire:

U.S. homeownership increased by 10.5 million over the last decade, with record highs for Hispanic and Asian Americans. However, Black homeownership lags behind at 44.1%, and disparities persist among racial and ethnic groups, impacting buying challenges and housing affordability. Minority homeownership rates increased in 2022, with Asian and Hispanic Americans reaching all-time highs. Despite fast-rising mortgage rates, Asian and Hispanic homeownership rates grew while Black homeownership slightly increased. The data reveals disparities in housing affordability for Black and Hispanic homeowners compared to White homeowners, with Black and Hispanic homebuyers struggling with higher student loan debt and mortgage denial rates. NAR advocates for policy solutions to close homeownership gaps among demographic groups. NAR supports robust funding for federal fair housing enforcement and joined a coalition of real estate groups to support HUD’s Affirmatively Furthering Fair Housing rule. The National Association of Realtors® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.



Read more: Racial Minority Groups Increased Their Homeownership Rates