Bridging the Gaps on the Road to Homeownership
While progress has actually been made to improve fair real estate access, households of color still face special obstacles on the road to owning a home. It’s clear that accomplishing homeownership is more tough for certain groups because there’s still a quantifiable gap between the overall average U.S. homeownership rate and that of non-white groups. That financial obstacle alone makes buying a home more challenging, particularly at a time when affordability is a significant concern for first-time purchasers.

While development has been made to enhance reasonable housing gain access to, households of color still face special obstacles on the road to owning a home. It’s clear that achieving homeownership is more tough for particular groups because there’s still a quantifiable space in between the overall average U.S. homeownership rate and that of non-white groups. (NAR), nearly half of Black property buyers in 2023 were newbie buyers. That financial obstacle alone makes purchasing a home more difficult, particularly at a time when price is a major concern for novice buyers. That’s why it’s so important for members of varied groups to have the best group of experts on their sides throughout the homebuying process.