Homeownership has risen nationwide over recent years but remains low for Black and Latino Americans.

Those populations have faced increased challenges during the pandemic, with layoffs and furloughs that have exacerbated their inability to purchase homes, according to a new study by United Way of the National Capital Area. But the study finds that some states are seeing improved rates in homeownership in those groups, in part due to policies and programs designed to create a more equitable housing market, the organization said.

United Way of the National Capital Area ranked the 50 states to uncover trends in Black and Latino homeownership, measuring criteria such as median household income, unemployment rate, homeownership rate, and the number of U.S. Department of Housing and Urban Development loans filed.

The Way Forward for Cities

Homeownership is strongest for Black and Latino residents in Maryland, largely due to the high annual incomes and low unemployment rates in the state, the study found. The median household income for Black and Latino residents in Maryland is $70,171, higher than that in other states. (For comparison, the national average household income for the two cohorts is $46,859.)

Also helping Maryland top the list: The unemployment rate for its Latino and Black residents is 7.15%, significantly lower than other states and lower than the national average unemployment rate of 9.73% for the group, the study said.

United Way of the National Capital Area

As more consumers go apartment hunting once again, they need to make sure they’re not getting duped in renting units that aren’t really up for lease. As the rental market heats up, this kind of scam is reemerging.

The worst time for rental scam losses is in the summer, according to a new analysis from ApartmentGuide.

Some scammers pretend to show homes to collect a deposit from a potential tenant, even though they have no legal authority to rent out a unit.

ApartmentGuide analyzed nearly 2,000 rental scams reported from Feb. 13, 2015, to May 31, 2021, to identify where scams are the most common.

Idaho showed the highest risk for rental scams. The state has been attracting many new residents. In 2020, the state had the largest percentage of people move there, with a 70% inward migration rate, compared with just 30% outbound. Rental costs have been rising in the state, jumping nearly 58% year over year, from $1,196 to $1,889.

The top five states for rental scams are all located in the West. The states that showed the most risk for rental scams are in:

1. Idaho
2. Hawaii
3. California
4. Colorado
5. Oregon

However, half of the cities with the most rental scams reported were in California or New York, according to ApartmentGuide’s analysis. The following cities had the most reported rental scams:

1. Los Angeles

2. Boise, Idaho

3. San Francisco

4. San Diego

4. Phoenix

5. New York

5. Columbus, Ohio

5. Brooklyn, N.Y.

Meanwhile, the states with the fewest rental scams per capita are Iowa, Arkansas, South Dakota, Connecticut, and Wyoming.

The majority of consumers continue to mistakenly believe they need at least a 20% down payment to purchase a home, but the truth is the average down payment among all buyers is just 12%, according to National Association of REALTORS® data. Younger buyers tend to put down the least: For example, those between the ages of 22 and 30 put down an average of 6%, and those between the ages of 31 and 40 make an average 10% down payment.

Financial experts often say a 20% down payment is ideal because it helps borrowers qualify for a mortgage and avoid the extra costs of private mortgage insurance. But it’s not always practical advice, especially as affordability dwindles. For example, a 20% down payment on an entry-level single-family home in the Los Angeles area could be between $200,000 and $400,000.

Several conventional lenders allow buyers to purchase a home with a down payment as low as 3%, while some government-backed programs like through the VA issue loans with no money down. Borrowers may find such options through FHA, USDA, or VA loans as well as down payment assistance programs.

Young adults, in particular, may be missing out on key information to move forward in the housing market. Two out of three recently surveyed say they are waiting for lower mortgage rates before starting the homebuying process, according to a survey of 1,000 millennials (ages 25 to 40) conducted by Lombardo Homes. However, economists have largely predicted that mortgage rates will edge upwards in the coming weeks. Further, one in four millennials underestimated their buying potential by $150,000 or more, the study finds.

Also, 59% of consumers say they did not know that the seller pays the real estate agents’ commission, the Lombardo Homes survey shows. Respondents also expressed confusion about many real estate terms, such as earnest money, FRM (fixed-rate mortgage), and PITI (principal, interest, taxes, and insurance).

Real estate pros can educate buyers on common terms and financing resources. After all, home buyers of all ages are more likely to contact a real estate agent before a mortgage lender when they begin the homebuying process, according to NAR’s 2021 Home Buyers and Sellers Generational Trends report.

Since the start of the pandemic, home prices have been rising twice as fast in car-dependent neighborhoods as in transit-accessible areas, according to newly released Redfin research. The trend may be only temporary as social distancing practices that made commuting by train, subway, or bus less practical begin to ease.

The median home sale price in car-dependent areas across the country has risen nearly 33% since January 2020 to a record $418,100, Redfin data shows. In transit-accessible neighborhoods, the median price has risen only by 16% but still reached a record of $540,500.

Fifty-six percent of homes in car-dependent neighborhoods sold for above asking price in May compared to 36% of transit-accessible homes, the Redfin study shows. Homes in car-dependent neighborhoods also tended to sell faster—an average of 19 days versus 38 days for transit-accessible homes.

“Remote work has allowed many home buyers to leave cities for far-flung suburbs,” says Daryl Fairweather, Redfin’s chief economist. “Those suburbs often lack public transit, so new residents drive more often. Hopefully, a less frequent commute will mean fewer hours behind the wheel. But as offices reopen, we may see commuters who used to live in the city and use public transit spending more time driving and emitting more carbon. Governments need to plan for this new reality and start providing more green transit to areas outside of major cities.”

More family members are moving in together under one roof, a trend that may help many better compete in the ultra-hot housing market. With record-high home prices still climbing, family members who pool their money may be able to afford a larger, higher-end home.

Multigenerational households have been on the rise since the start of the coronavirus pandemic. “I think [multigenerational households] could be a trend that’s here to stay,” Jessica Lautz, vice president of demographics and behavioral insights at the National Association of REALTORS®, told The New York Times. Families of Asian and Latino descent are the most likely to live with aging parents, Lautz said.

Fifteen percent of home buyers purchased a multigenerational property between April and June 2020, during the first wave of COVID-19 infections in the U.S., according to NAR data. That was the largest share since 2012. The most common reasons for this move were to bring aging parents into the home and to have grandparents help with child care. Respondents also cited greater affordability as a reason for family members to pool their finances for a home purchase.

“There was no way that I could afford the cost of a house on my own,” Erin Wentz-Lesman, 41, a public school teacher in Brooklyn, N.Y., told the Times. In October, Wentz-Lesman and her husband, along with their two children, purchased a home with Wentz-Lesman’s parents, both of whom are 68 and retired. They purchased a five-bedroom home for $1.25 million.

Many real estate agents may be missing out on a big opportunity to market their listings online through virtual tours and best professional photography practices. As more house shopping goes online, buyers are saying these items are more important to them.

Yet, 94% of listings do not include a virtual tour. Many listings claimed to have a virtual tour but only offered a photo-based slideshow, according to a new study of 25,000 listings conducted by BoxBrownie.com, a virtual staging technology provider. BoxBrownie.com conducted the analysis of listings’ photography and virtual tour assets on top U.S. real estate portals from March to June of this year.

Also, less than 30% of listings used best practices in professional photography, the study found. Only 16% of listings included a floor plan.

Sixty-seven percent of buyers say they want to see floor plans on listings and 58% say they want to see virtual tours, according to the 2021 Home Buyers and Sellers Generational Trends Report, conducted by the National Association of REALTORS®.

“The results have been very enlightening and unexpected, with less than 30% using best practices in professional photography is surprising, and flies in the face of what we are led to believe,” says Peter Schravemade of BoxBrownie.com.

Apartment listings were twice as likely to include best practices for professional photography and a floor plan than single-family homes, the study finds.

The study also broke down findings on a state level, revealing New York as leading the way for having the highest percentage of properties featuring best practices using professional photography, floor plans, and virtual tours. The metro area was more likely to include all three of these features in their listings versus other regional areas.

BoxBrownie.com will release the full findings from its report on July 20.