Why it matters:
- The Hispanic homeownership rate has risen to 48.6%, marking 8 years of steady homeownership growth, according to the NAHREP 2022 State of Hispanic Homeownership Report
- The Hispanic population has become increasingly mortgage-ready. Nearly 8 million Latinos aged 45 or younger currently have the credit characteristics to qualify for a mortgage and another 2.8 million are near mortgage-ready, according to the NAHREP report
- Latinos are expected to account for 70% of homeownership growth over the next 20 years, the only racial or ethnic group forecast to see an increase in homeownership, according to the NAHREP report
For additional insights on tapping this lucrative market, read Alejandra Dendra’s National Mortgage Professional magazine article: How to Better Serve Latino Homebuyers in 2023 – and Beyond.
Pat Sherlock is the founder of QFS Sales Solutions, an organization that helps organizations improve their sales talent management and performance. For more information, visit https://patsherlock.com.