|Hispanic home ownership grows
(NAPSI)—The demographic portrait of the U.S.—particularly its urban centers—is changing.
That’s the word from the experts at the Brookings Institution who report that in the period 2000 to 2010, nonwhites and Hispanics accounted for 98 percent of population growth in large metro areas of the U.S.
According to William Frey, author of the Brookings report, “The New Metro Minority Map: Regional Shifts in Hispanics, Asians, and Blacks from Census 2010,” growing Hispanic populations are driving demographic shifts in major American cities.
He observed that during that decade, 29 of the 100 largest metro areas more than doubled their Hispanic populations.
Hispanics are also the fastest-growing group of first-time homebuyers, according to the “2012 State of Hispanic Homeownership Report” published by the National Association of Hispanic Real Estate Professionals.
This growth in the Hispanic market is reflected in the way some—but not all—real estate companies are responding to the opportunity. For example, one company in particular, Century 21 Real Estate LLC, is actively recruiting Hispanic entrepreneurs who want to help other members of their community become homeowners, while pursuing a career with unlimited earning potential.
At the same time, to better serve its clients, the company has created a Facebook page designed to connect with the Hispanic community. The page has the theme “It’s Our Time.”
The uptick reported in Hispanic first-time homeownership is consistent with what may be a general market trend.
According to Rick Davidson, president and CEO, Century 21 Real Estate LLC, “The market is still presenting opportunities for first-time buyers.”
He also observed that according to the National Association of Realtors’ April “Existing-Home Sales” report, pricing for sellers has trended upward for 14 consecutive months.