Washington, DC - July 28, 2020 - The National Association of Real Estate Brokers (NAREB) enthusiastically welcomes the
continued upward trend of the Black homeownership rate as issued by the U.S. Census Bureau in its 2nd quarter 2020
report. The 47% rate represents the fourth consecutive quarter, one year in totality, of increases in Black
homeownership. While there may cause for celebration, we are mindful that the current Black homeownership rate has not
reached this number since 1st quarter of 2000 when reported by the U.S. Census Bureau at 47.4% and reached an all-time
high of 49.7% in 2nd quarter 2004.
This current upward trend indicates to NAREB that concerted efforts to address and remove systemic barriers to Black
homeownership, intentional and targeted programmatic initiatives, along with focused promotion of the wealth building
benefits of homeownership appear to be shifting the tide. I assure Black American prospective homebuyers that NAREB will
continue to aggressively pursue our advocacy efforts nationally and be available to assist Black Americans considering
homeownership.
We are painfully aware, however, of the disparate health and financial effects that the COVID-19 pandemic has inflicted
on Black Americans and other vulnerable populations. Life, as we all knew it, is difficult to navigate now, and into the
foreseeable future. At the same time, the dreams, and the plans for homeownership among Black Americans appear not to be
squelched. NAREB Realtists and our real estate affiliates, using every possible safety precaution, stand unified as
guardians of our communities, ready to provide the guidance and accurate information to Black Americans working to
achieve their dream of homeownership and a pathway to boost economic futures.# # # # #
The National Association of Real Estate Brokers (NAREB) was formed in 1947 to secure the right to equal housing
opportunities regardless of race, creed or color. NAREB has advocated for legislation and supported or instigated legal
challenges that ensure fair housing, sustainable homeownership, and access to credit for Black Americans. At the same
time, NAREB advocates for and promotes access to business opportunity for Black real estate professionals in all of the
real estate disciplines. NAREB annually publishes The State of Housing in Black America report. www.nareb.com