Why a Diversity Program?
Racial and Ethnic Diversity Is the Hallmark of Today's Real Estate Market
The NATIONAL ASSOCIATION OF REALTORS® is a proud inheritor of America’s past experience with ethnic diversity. Among our 1.3 million members are the children and grandchildren of previous waves of immigration: English, Irish, Scots, Germans, Italians, and Greeks. They comprise the 90 percent of all NAR members who are white. Today’s challenge is to increase the remaining 10 percent minority share to a figure that more accurately reflects the evolving racial and ethnic diversity of contemporary America.
- The minority population in this country—African Americans, Hispanics or Latinos, and Asians—has grown by 35 percent since 1990, a growth rate five times that of the U.S. population overall. By the year 2010, one-third of the American population will be minorities. (Source: U.S. Bureau of the Census)
- Minority buying power in the United States is estimated today to be $1.5 trillion. By the year 2007, it is expected to reach $2.3 trillion. The buying power of the Hispanic community alone will exceed $900 billion.
- Immigrants and ethnic/racial minorities from Europe, Asia, Africa, and Latin America represent a major growth segment of the housing market and, therefore, of the realty profession. Government and industry data indicate that two out of every three new households are being formed by foreign-born or minority persons. Foreign-born homeowners already account for $1.2 trillion in housing wealth.
Why a Diversity Program?
Tomorrow's Association Is Diverse
Diversity Initiatives Strengthen Community Influence
It May Be Easier Than You Think
