Hispanic Americans have historically been underrepresented as homeowners, but that could soon change. If predictions hold true, longstanding homeownership gaps may be closing.

Fifty-eight percent of Hispanic home shoppers are first-time buyers, significantly higher than the rest of the U.S. population (34%). A new survey conducted by realtor.com® and the National Association for Hispanic Real Estate Professionals found an increasing presence of Hispanics in the housing market, and the organizations predict that number will continue to grow.

Latinos are predicted to account for 70% of new homeowners over the next 20 years, the study shows. “Insights into Latino home buying will be critical to understanding how to sustain growth in the housing market,” says Gary Acosta, co-founder and CEO of NAHREP.

Realtor.com® has developed a free “First-Time Homebuying 101” e-book, available in English and Spanish, that provides tips on financial readiness, down payment assistance, and tips for navigating the process.

Source: Realtor.com