Hispanic real estate prospects are the leading market segment of first-time home buyers. This is according to data from the National Association of Hispanic Real Estate Professionals.
And, for the past 5 years in a row, the Hispanic Homeownership rate has risen dramatically. This is according to the tenth annual State of Hispanic Home ownership Report from the National Association of Hispanic Real Estate Professionals. The report showed that the rate of home ownership among Hispanics in the U.S. climbed for the fifth consecutive year in 2019. The new number is 47.5% – which is huge.
Another important statistic: Hispanics established 435,000 new households in 2019. This accounted for 31.4% of net growth in the U.S.
According to the report, there are 4.9 million “mortgage ready” Hispanic millennials spread across the country. They represent a significant source of future business. Consequently, real estate and mortgage brokers need to focus on this important group if they want to succeed.
But, not every one of those is a great prospect. That means real estate and mortgage professionals need to consider their options.
Hispanic First Time Home Buyer List
Our mailing list has the names of over 850,000 Hispanic first-time Home Buyer prospects in the U.S. These prospects are not just renters.
The First Time Home Buyer list is built through a sophisticated model that targets selected renters who will be buying homes & condos. This is a very strategic group. When we overlay the data with Hispanic ethnicity, we turn this list into a marketing powerhouse!
Hispanic Real Estate Prospects by the Numbers
The National Association of Realtors estimates that there are approximately 50,000 Hispanic Realtors in the country. This represents only 5% of the realtor population. In addition to this, the number of Hispanics in the mortgage industry is estimated to be under 5%. The goal of NARs is to successfully increase sustainable Hispanic home ownership. This will require a substantially larger number of culturally competent real estate agents and mortgage professionals. Consequently, this will effectively engage and guide Hispanic real estate prospects through the home buying process.
Many First Time Home Buyer prospects may browse the newspaper or go on-line to see what homes are available. The smart real estate agent who wants to stand out from the crowd will use a well thought out direct mailer. This will put their name in front of the right people at the right time.
Mortgage companies, home builders & Real Estate companies need to know as much as they can about Hispanic real estate prospects and First Time Home Buyers.