The Asian Real Estate Association of America (AREAA), the National Association of Hispanic Real Estate Professionals (NAHREP) and the National Association of Gay & Lesbian Real Estate Professionals (NAGLREP) released their annual reports which provide insight into the unique challenges facing some homebuyers.
Among the key takeaways from 2018-19 AREAA’s State of Asia America report:
- Chicago is the No. 1 city for midwestern relocation, with 3 million Asian Americans,
- 58 percent of Asian American Pacific Islanders (AAPI) in the U.S. own homes, and
- The AAPI community is the fastest growing demographic in the U.S., with 25.7 million people.
The 2018 State of Hispanic Homeownership NAHREP report says:
- Illinois is the fifth largest state for Hispanic population,
- The Illinois Hispanic homeownership rate is 47.1 percent,
- The Hispanic population of 58.9 million is the largest ethnic population in the U.S. and
- Hispanic home buyers are more than twice as likely to have an FHA loan (42.8 percent).
The 2019-20 NAGLREP LGBT Real Estate Report notes that:
- Lesbian, Gay, Bisexual and Transgender (LGBT) homeownership rates (49 percent) are below the national average of 65 percent,
- 46 percent of LGBT renters fear discrimination in their future home buying process, according to Freddie Mac and
- 13 percent of LGBT renters report that they’ve been discriminated against in the home buying process, according to Freddie Mac.
Watch next month for an annual report from the National Association of Real Estate Brokers (NAREB).