Latino home buyers targeted as dynamic portion of market

"One in four home buyers in Las Vegas is Hispanic, and the real estate industry is trying to catch on as quickly as possible.

It is not just the growth rate of Hispanic families that is driving the number of home sales. Families headed by illegal immigrants are more and more using a Taxpayer Identification number to qualify for a home loan — an option offered by banks since around 2003.
The trends are especially noticeable in Las Vegas, Gardea said. By comparison, one in seven homebuyers nationally are Hispanic.

Hispanics made up 26 percent of Clark County's population in 2005, according to the Census Bureau's American Community Survey. They were 22 percent of the county's population in 2000.

Stated differently, the number of Hispanics grew 48 percent in Clark County between 2000 and 2005, while the county's non-Hispanic population grew by 18 percent. " read more

By Cristina Rodriguez, IBLV