Hispanic homeownership risesHispanic homeownership riseshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=193922018-03-07T06:00:00Z2018-03-07T22:00:00Z

​​​​​​AUSTIN – Hispanics are a dominating force in homeownership, closing in on their predownturn homeownership rate sooner than the U.S. as a whole, according to the annual National Association of Hispanic Real Estate Professionals ​report.

The Hispanic homeownership rate increased to 46.2 percent in 2017, down just 3.5 percent from 2007, prior to the recession. This is the third straight year Hispanics grew their homeownership rate—the only demographic group to make a three-peat.

The Hispanic population is skyrocketing, expanding last year by 1.1 million to now 58.6 million. It is expected to rise to 119 million by 2060. Six million Hispanic households are expected to materialize by 2024. Hispanics also have a higher labor force participation rate (66.1 percent) than every other demographic, and their purchasing power totals $2.13 trillion.

Eighty-one percent of Hispanics believe homeownership is a good long-term investment, and 88 percent believe they will more likely be homeowners than renters in the future. Twenty-five percent believe buying a home is ideal now.

Texas has the second-highest number of Hispanic residents in the country at 10.9 million, behind California with 15.3 million.

The Real Estate Center's online English-Spanish ​Real Estate Glossary is a valuable tool for anyone with Spanish-speaking clients. It defines, translates, and explains 787 real estate terms. The print edition is also available as a Kindle e-book f​rom Amazon.com​

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