Did you know one of the healthiest trends in U.S. real estate is the number of Hispanic families realizing their dreams of owning a home in America?
Another true trend is that Kansas is among the states with the fastest-growing Hispanic homebuyer population in the U.S.
Own a Home Wichita is excited about these trends and is in a place to help Hispanic homebuyers, said Jeremiah Johnson, CEO of Own a Home Wichita.
“The Hispanic population has a strong reputation for valuing the concept of owning a home,” said Johnson. “Studies on Hispanic buyers frequently point out that they value as one of their anchors in life a close-knit, healthy family, which includes home ownership” he said. “I read a Zillow report that said 70 percent of Hispanics in America consider homeownership an essential part of the American Dream.” And he noted this proves itself in statistics that show Hispanic home buying is a vibrant, critically important sector for the overall U.S. real estate market.
Statistics on U.S.-based Hispanic Home Buyers
The figures on of what Hispanic families are achieving are impressive. (If you want to want to know more about the phenomenon, one of the best sources of information is from the National Association of Hispanic Real Estate Professionals and the Hispanic Wealth Project (NAHREP). (See the link at the bottom of this blog).
The latest The State of Hispanic Homebuying Report from NAHREP lists 2017 statistics, but their 2018 data will be published soon. The good news for Hispanic families is that Hispanic home buying in the U.S. has shown healthy growth for the eight years the report has been issued.
Hispanic Buyers are Helping Keep U.S. Real Estate Healthy
As the Hispanic Home Buying Report notes an amazing 167,000 Latino families realized the dream of acquiring their own home in the U.S. in 2017. And even more remarkably, they note that Hispanic families have accounted for nearly half the net U.S. homeownership gains since the year 2000.
“I have also seen surprising statistics that despite this large Latino contribution to U.S. real estate, still a very small percentage of real estate companies in the U.S. have Spanish-speaking employees,” said Johnson, “but we are working to fix that locally in Wichita.”
Overcoming the Challenges
Despite all this good news, Johnson said homebuying is not a slam-dunk certainly for Hispanic families in the U.S. So, he acknowledges that potential home owners and the people who sell houses need to work together to ensure there is a level playing field for all home buyers.
“There are some challenges potential Hispanic buyers face, such as the language barrier, when they might not speak adequate English,” he said. “Also, some Latino buyers might not understand the U.S. credit and multi-step buying process completely. But again, that’s why we have Spanish-speaking people and forms to fill out in Spanish at Own a Home Wichita’s website.
Finally, the CEO said, “It is also true the Hispanic market, as a whole simple does not have the same level of annual income as white U.S. home buyers as a group. Johnson said that’s why he thinks Own a Home Wichita is an especially good fit for Hispanic buyers. The company routinely finds and buys homes with “good bones, that need tender loving care” in good neighborhoods with access to schools and shopping. Then it fixes these houses up and offers the opportunities to modest-income buyers at a fair price.
“With all these things we’ve put into place, we intend to show potential real estate buyers that we are seriously excited about serving the vibrant Hispanic-homeowner sector locally,” Johnson said.
He said Hispanic home buyers in the Wichita market owe it to themselves to check out the company’s website at https://www.ownahomewichita.com to take advantage of seeing what houses and opportunities are available, and to download the forms to apply (in Spanish or in English).
“We are always here to help,” said Johnson, “in Spanish or in English.”
To read the vital report on Hispanic homebuying in the U.S., find it at this link: