A new study conducted by Construction Coverage notes that the Arizona’s minority homeownership gap is smaller that the national average — with one Arizona city having one of the lowest gaps in the country.The study uses U.S. Census data to compare the homeownership rate of white people with the homeownership rate of minorities across more than 250 U.S. metros and all 50 states. Nationally, the minority homeownership gap has exceeded the 20 percentage points for at least the past two decades, Construction Coverage found.The minority homeownership gap underscores a U.S. housing market that has proven increasingly unaffordable for many. A recent study found that Arizona is among the least affordable states for homebuyers, though builders continue to gobble up land to bring fresh supply to the Valley.Seattle-based Redfin Corp. (Nasdaq: RDFN) in 2023 found only 21% of homes for sale in the U.S. were affordable for the typical household, as a major spike in mortgage rates and an intensely competitive market quickly drove up hou …
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