While the U.S. homeownership rate has continually increased during the last decade, the Black homeownership rate has not kept pace with increases of other racial groups, according to a recent survey. Also, people of color endure significant buying challenges throughout and even after their home purchase.
The 2023 Snapshot of Race and Home Buying in America, released by the National Association of Realtors, examines homeownership trends and challenges by race and location to explain the current racial disparities in the housing market. Leveraging NAR’s latest Profile of Home Buyers and Sellers data, the report explores the characteristics of who purchases homes, why they purchase, what they purchase and the financial background of buyers by race.
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