The Smartest Move Lenders Can Make in 2023


If your sales force isn’t tapping into a more multicultural market, you and your lender could be leaving millions in new business on the table.

Why it matters:

  • The buying power of African American, Asian American and Native American consumers, has increased exponentially to $3 trillion in 2020. Source: University of Georgia’s Selig Center for Economic Growth
  • Minority consumers currently have lower homeownership rates than their white counterparts. Whites are at 71%, followed by Asian Americans at 59%, Hispanics at 51% and Blacks at 44%. Source: Freddie Mac
  • Minority groups represent a large market opportunity with 41 million mortgage-ready potential diverse customers. Source: Freddie Mac

For more insights on this important topic, take a look at NAR’s recent report, A Snapshot of Race and Homebuying in America.