The National Association of Realtors recently released a report that highlights the disparities in home ownership for African-Americans over the last three years. The report shows that while the United States homeownership rate has rebounded to 65.1% in the fourth quarter of 2019 from a low of 62.9% in the second quarter of 2016, that improving number does not benefit certain ethnicities as much as others. This leads me to ask, how does this gap continue to exist given the National Association Realtor (NAR) Association renewing their commitment to Fair Housing earlier this year with the ACT (Accountibility, Culture Change, and Training) action plan?
This NAR report is coming fresh off the heels of an article written by Newsday, recapping a three-year investigation on ‘unequal treatment of potential minority homebuyers and minority communities’ in Long Island, New York.
Needless to say these numbers, along with the Newsday article, indicate we still have an issue regarding race and home ownership that needs to be addressed.
Here’s an alarming graphic from the National Association of Realtors’ report: