Hispanic Market is Fastest Growing in the US
Just released report on state of Hispanic market in US real estate arena shows that this is fastest growing group of 1st time buyers. National Association of Real Estate Professionals studied education, jobs, income, households and purchasing power and determined that this group accounted for 51% increase while the rest of theÂ US population's growth in home ownership gained just 5%.Â
Here are some areas to support this report. 1) education for college students of Hispanic heritage increased to 16% of total enrollment 2) over 50%Â of the growth in jobs in the US was accounted for by Hispanic market 3) income showed that 40% of this market earned over $50k yearÂ 4) number of households formed in 2012 increased to over 1 million new families while rest of the US markets grew by only 5%Â and 5) purchasing power of Hispanic market will grow from $1 trillion in 2012 to over $1.5 trillion by 2015.
Home ownership is extremely important to this group 56% rate very high because it is a symbol of success and achievement while all other groups say it is important to only 32% of them. You can probably see more clearly and are surprised at theÂ results of rising growth of home ownership in Hispanic market.Â