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Stock impact report

Black first-time home buyers see strongest rebound as national rates decline [Yahoo! Finance]

Zillow Group, Inc. - Class A (ZG) 
Last zillow group, inc. - class a earnings: 2/19 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.zillowgroup.com
Company Research Source: Yahoo! Finance
A recent Zillow® survey found that 62% of Black home buyers purchased their first home in 2024, holding steady from the previous year. In comparison, overall, first-time buyers made up just 44% of the market, down from 50% in 2023. Zillow logo (PRNewsfoto/Zillow Group) After a sharp drop from 47% in 2019 to 35% in 2021, the share of Black first-time buyers rebounded to 55% in 2022 and hit a record 63% in 2023 — outpacing other racial groups and the national trend. "Despite affordability challenges, Black first-time home buyers are demonstrating a strong commitment to homeownership, a key driver of generational wealth," said Zillow Senior Economist Orphe Divounguy. "While income disparities and saving difficulties continue to delay home buying for Black households, programs like down payment assistance, first-time buyer tax credits and flexible lending options have helped increase access." The rise of remote work has also expanded opportunities, giving some Black renters more f Show less Read more
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