Hispanic Homeownership in 2022: A Growing, Younger, Vibrant Market

November 15,2021
What’s brewing in the Hispanic homeownership market for 2022? A handful of recent studies published in October 2021 provide a beneficial overview of this expanding buyer and seller segment.
When it comes to Hispanic homebuyers in the U.S. purchase market, researchers at the National Association of Realtor’s (NAR) reported in the 2021 Hispanic Homebuyers Boost Sales study:
  • Buyers are a sizable and expanding share of the housing market, with women and Millennials being the fastest growing sub-groups.
  • Female buyers consistently grew faster than their male counterparts every month from May 2018 – October 2021, a 12.7 percent average year-over-year growth.
  • Millennials were the fastest-growing generation each month since 2018.
  • Hispanic buyers were 12.1 percent of all home purchasers from July 2020 – June 2021.
  • The number of buyers grew faster than non-Hispanics from June 2018 – February 2020, a 6.5 percent average year-over-year growth.
Hispanic buyers experienced more challenges at the beginning of the COVID-19 pandemic than their non-Hispanic peers.
Moreover, today’s typical Hispanic homebuyer is young, with 55 percent under 35 years-old compared with just 37 percent within the overall homebuyer population, 2021 Hispanic Homebuyer Profile report:
  • Almost half (49 percent) of buyers live in urban areas while 42 percent live in suburban communities. About 47 percent reported incomes over $50,000 a year, with 21 percent earning over $100,000.
  • The majority of buyers, 67 percent prefer remote-work arrangements.
  • Mirroring broader trends, buyers are searching for three-bedroom homes having two-and-a-half bathrooms.
  • Nearly 60 percent of buyers seek homes priced at $350,000 or less, with approximately the same proportion planning to move away from their current city or town.
  • Buyers seek homes near extended family, as well as spaces accommodating extended-family visits.
  • About 81 percent of buyers find it helpful to consider their family and friends’ opinions on homes they want to purchase.
Additionally, most Hispanic new-homeowners are likely to be married or single, between 18 – 34 years old, with nearly half having school-age children, 2021 Hispanic New Homeowner Profile report:
  • Similar to the overall market trend, 39 percent of recent buyers paid over the asking price and only 25 percent paid under. Also, 43 percent surpassed their original budget.
  • More than half of recent buyers were first-time homebuyers.
  • Most homeowners who bought within the last year were satisfied with their purchase, with 55 percent feeling they “neither underpaid or overpaid” for their home.
  • The pandemic was influential in 57 percent of recent homeowners’ decision to buy.
Finally, Hispanic potential home sellers tend to be young, married, and considering the needs of school-aged children on average, 2021 Hispanic Home Sellers Profile report:
  • Potential home sellers are more likely to be employed and less likely to be retired than the general population.
  • A higher proportion of homeowners who are considering selling in the next year live in urban areas compared to the total population.
  • Sellers are moving quickly to prepare and get their homes on the market, hoping to take advantage of the market’s current advantages and make a profit.
As there is a growing interest in Hispanic homeownership, this is a great opportunity for credit unions to leverage this information. Now is the time to reach out to members and share how a credit union can help Hispanic individuals and families be one-step closer to making their homeownership dreams come true.
by CU Members

Share This Post



Blog post currently doesn't have any comments.

Leave a Comment

Indicates Required Fields

 Security code


Related Posts

Welcome Home to a better Mortgage
Unable to contact twitter at this time.

Connect with Us

© Copyright 1997-2022 CU Members Mortgage, a division of Colonial Savings, F.A. NMLS 401285. All Rights Reserved. Mortgage rates and terms subject to change without notice. This is not an offer to extend consumer credit as defined by Section 1026.6 of Regulation Z.

Mortgage Bankers Association Member Logo Equal Housing Lender
Colonial Savings, F.A. NMLS 401285