Buying a home has long been a way for immigrant groups to signal that they have “made it.”
For Hispanic Americans, a mega-boom in homeownership is revving up.
With U.S. Census data reporting that more than half of all infants born in the United States last year were minorities or multiracial, with whites having 1.1 births for every death and Hispanics counting 8.9 births for every death, it stands to reason that the profile of home buyers is also undergoing a change that may accelerate in years to come. The folks at Movoto.com, a full service real estate brokerage based in San Mateo, CA, decided to figure out just how much.
Using data on the race/ethnicity of first time and repeat home buyers from the National Association of Realtor’s annual “Profile of Buyers and Sellers,” on its blog Movoto.com noted that whites accounted for about 85 percent of home purchases.
Last year, the other 15 percent of buyers included six percent Black/African-Americans, six percent Hispanic/Latino home buyers and four percent Asians or Pacific Islanders, with other ethnicities/races comprising up to two percent. READ MORE
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