The U.S. is grappling with significant challenges in advancing Black homeownership, as highlighted by the 2024 State of Housing in Black America (SHIBA) report, published by the National Association of Real Estate Brokers (NAREB) this month.
“The two best-performing demographics for African Americans — Black female-headed households and millennials — both declined in home sales in 2023,” the organization stated in announcing the report’s findings.
Black homeownership in 2023 stood at just 45.7%, a stark contrast to the 74.3% rate for white households. The highest rate of Black homeownership, 49%, was recorded in 2004, underscoring a sharp decline over the past two decades.