Black Homeowners Outperformed Whites
Blacks who bought in predominately Black neighborhoods in 2019 outperformed whites according to Redfin
– Blacks gained a median of $59,000 in home equity in 2020.
– Whites gained a median of $50,000 in home equity in 2020.
However, even with the substantial home-equity uptick, Black Americans who bought in 2019 still have a median of $89,000 in equity, much lower than $113,000 for white Americans.
NOTE: Asian households saw the biggest dollar gain in home equity, Even though Asian homeowners only saw 44% growth from 2019, they were up $79,000 for a total equity of 257,000 which is over twice the amount in white households.