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A Zillow survey saw Black homebuyers purchasing their first home held steady in 2024. To speak more about this survey's findings and what's pushing this trend, Zillow Group senior economist Orphe Divounguy sits down with Brad Smith on Wealth.
"Less than half of all black households own their own home, compared to roughly 65%, which is the national average," Divounguy explains. "Technology is helping. Mortgage data shows a lack of credit history is the primary reason for black applicants' mortgage denials. The push to make utility payments and rent payments count towards someone's credit history is going to help."
Watch the video above to hear more of Orphe Divounguy's insights into the types of metro areas driving Black homebuying and the challenges ahead for the broader US housing market.
To watch more expert insights and analysis on the latest market action, check out more Wealth here.
This post was written by Luke Carberry Mogan.
