Tuesday, 28 June 2022 | The Latest Buzz for the Appraisal Industry

Reducing Disparity in the Minority Homeownership Rate

Driven mainly by the pandemic and subsequent demand for detached single-family homes, the U.S. homeownership rate jumped to 65.5% in 2020, an increase of 1.3% compared with 2019, according to data from the National Association of Realtors (NAR).

However, the homeownership rate for Black Americans actually fell to 43.4% – down from 44.2% in 2010. Meanwhile, the homeownership rate for White Americans increased to 72.1%.

Not only do Black Americans have significantly lower homeownership

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