The National Association of Hispanic Real Estate Professionals released the 2018 State of Hispanic Homeownership Report on Tuesday at its Housing Policy & Hispanic Lending Conference.
The annual report found that from 2008 to 2018, the Hispanic population was responsible for 81% of U.S. labor force growth, accounted for 39.6% of U.S. household formations and represented 62.7% of the increase in U.S. net homeownership.
“The annual State of Hispanic Homeownership Report play an important role in noting important trends in the Latino megamarket and serves as a key informational resource for policymakers and industry stakeholders,” NAHREP said in a press release.
The 2018 State of Hispanic Homeownership Report is in its ninth year of publication, focusing on the impact of language and culture in home purchase transactions. In addition to statistics on these homeownership trends, the report also provides recommendations on marketing strategies to help companies effectively reach Hispanic consumers.
Download the full report here.
The housing market is tipping in favor of buyers, with a significant percentage of homes on the market selling for less than their original listing price.
This is according to real estate startup Knock, which reveals which markets have the highest percentage of homes that will sell below asking in its second quarter Deals Forecast.
Homebuyers are increasingly likely to score a deal, Knock says, forecasting that 75% of current listings will sell below their original listing price in Q2, and pinpointing the average number of days on the market as 25 and the average price reduction at 3.3% below asking.
The best deals, it reveals, can be found in the South.
Among the top 10 cities that had the greatest percentage of houses sell for less than asking, seven were located in the South.
Florida took the lead, with four cities in the sunshine state making the list, including Miami, which nabbed the No. 1 spot for both the size and the frequency of price reductions.
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