February is Black History Month! Did you know this year is the 60th anniversary of Black REALTORS® joining the Chicago Association of REALTORS®? The first four Black REALTORS® were admitted into the association in 1963, 80 years after the Chicago Association of REALTORS® was founded.
Join us as we celebrate our trailblazers and leaders, discuss the state of Black homeownership, attend our Black History Month event and much more. Keep reading to learn more!
Attend our Black History Month event!
On Wednesday, February 8, we’re celebrating Black professionals throughout the real estate industry during our Black History Month event. Register today!
Get to Know Our Industry Trailblazers!
These individuals have volunteered their time to our industry and association. Thank you for your dedication!
Meet Our Past Presidents:Find out more about the bench, and take the time to visit it this Black History Month!
Meet Our Black Leaders, Directors, Foundation trustees, Committee Chairs and Staff:
Learn How President Sarah Ware Celebrates Black History Month
What to Know About the State of Black Homeownership
Learn more about the state of Black homeownership and disparities in homeownership rate compared to other races in the 2022 NAREB State of Housing in Black America (SHIBA) Report.
Additionally, the National Association of REALTORS® 2022 Snapshot of Race and Home Buying in America released its report which states:
- While the national loan denial rate for Black/African Americans is 7%, the loan denial in Illinois is 24%, with the top two sources being debt to income ratio and credit scores.
- 38% of Black renter households can afford to buy the typical home in the state of Illinois.
- 18% of Black/African-Americans purchased multigenerational homes.
What are the Barriers to Homeownership for Black Individuals?
The National Association of Real Estate Brokers (NAREB’s) recognizes that significant actions must be taken to genuinely offer Black Americans fair access to the American Dream of homeownership, including:
- Eliminating loan level price adjusters
- Eliminating penalty fees for borrowers to access downpayment assistance
- Recalculating the impact of student loan debt
- Leveraging special purpose credit programs
- Ending Discriminatory and Abusive Appraisal Practices
- Fixing the broken and out-of-date housing finance system
Listen To Hits – Submitted by Chicago REALTORS®
Apply For A Pre-Licensing, Post-Licensing or Higher Education Scholarship
Our Foundation and the Illinois REALTORS® offer a variety of scholarships that are specifically targeted to Black men and women looking to begin or advance their careers, or seeking higher education. Our next scholarship deadline is March 1.