Economists' Outlook

Housing stats and analysis from NAR's research experts.

May is the Asian-Pacific American Heritage Month, so in a series of blogs, we look at some demographic and real estate data regarding the Asian population.[1] In the previous blogs, we looked at demographic and homeownership among Asians. In this last blog, we look at Asians in real estate.

According to the American Community Survey, there were 2.974 million who worked in the real estate industry in 2014. Of this figure, 120,677 were Asians (4.1%), which is in line with the size of the Asian population to the total U.S. population.   Of U.S. workers in the real estate industry, 971,616 worked as real estate agents and brokers. Of this figure, 42,314 were Asians (4.3%).

working
Nearly half of these brokers/agents resided in California (19,057; 45%), followed by New York (2,925; 6.9%), Texas (2,909; 6.9%), New Jersey (1,854; 4.4%), Nevada (1,589; 3.8%), Washington (1,523; 3.6%), Virginia (1,521; 3.6%), Hawaii (1,445; 3.4%), Georgia (1,307; 2.1%), and Florida (1,169; 2.8%).

brokers and agents

What this means to REALTORS®: The Asian population is expected to increase significantly in the next decades from about five percent of the U.S. population in 2015 to nearly 10 percent in 2060. Asians are relatively highly educated and Asian households have one of the highest median incomes among all races. These trends are expected to have a positive impact on Asian homeownership and home sales.


[1] Refers to the Asian Alone population.

 

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