Immigrants boosting sales in the US housing market

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An eye-opening report released by Fannie Mae revealed new and rather unprecedented developments in the housing horizon. It seems that the homeownership gap between native-born Americans and immigrants has been steadily narrowing in the past decade.

Not only have immigrants weathered the recession better, but they are also being hailed as the solid support for the housing industry. As per the report, while native-born homeownership fell between 2000 and 2010, immigrant homeownership has increased from 49.8 percent to 52.4 percent (by almost 2.6 percent) during this time.

That number is expected to continue rising, which will direct the future demand for housing in a big way. The lengthening duration of their stay, increasing financial strength and spending powers are major contributing factors to their homeownership status.

Improvements in the job market have been instrumental in improving the housing market, but the progress hasn’t been steady. While the beginning of 2014 showed immense promise, housing demand and sales have since tapered down to a trickle and are expected to go into their slowest period.

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