Home Builders Feel Ethnic Buyers' Impact...

, from the Arizona Republic, reports that as the size of the Valley's minority communities grow, the impact on home building and the real estate industry is creating a new dynamic in home selling. In the not-too-distant future, it may even change the way some houses are designed as builders take note of the needs of young families and extended families. Nationally, Hispanics, Asians and African-Americans make up more than one-third of all first time home buyers in 2003. Although local statistics are not available, it could very well be higher in Maricopa County, where members of those groups make up about 39 percent of Maricopa County's 3.5 million residents. "Just by surnames alone, I can tell you home ownership by Hispanics has soared and is a significant part of the current activity," said local housing analyst RL Brown. Another signal that minority home buying is ramping up is the number of real estate professionals across the Valley taking time to learn more about the customs and cultural nuances of various ethnic groups. This is a great market niche to hang your hat on!

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