skip navigation


The National Association of Real Estate Brokers (NAREB) released the 2022 State of Housing in Black America report that states- Rising interest rates and an economy approaching a possible recession have constrained all first-time homebuyers. However, Black homebuyers are particularly challenged to save for down payment due to, among other factors, earning lower median wages than whites. According to the report, Black communities also suffer disproportionally from climate change because of a lack of resources, outdated housing stock, and crumbling infrastructure resulting from decades of redlining and segregation.

Despite these roadblocks, the report notes some positive trends: Black homebuyers for the first time in more than a decade applied for more conventional mortgage loans than for unconventional loans. Also, the Federal Housing Finance Agency approved the rollout of new, more sophisticated credit-scoring models that will more accurately represent the creditworthiness of Black consumers.

The report notes a few suggestions for the future: Eliminate loan level price adjustments, eliminate penalty fees to access down payment assistance, recalculate the impact of student loan debt, leverage special purpose credit programs, fix the broken and outdated housing finance system and end discriminatory and abusive appraisal practices. READ THE FULL REPORT HERE