Black and African American households are seeing success becoming first-time homebuyers. A recent survey from Zillow finds Black and African American first-time homebuyers have experienced the strongest rebound as first-time homebuyer rates have declined nationally. The survey shows that 62 percent of Black and African American homebuyers purchased their first home in 2024. That is consistent with the previous year in the survey. By comparison, overall first-time homebuyers made up 44 percent of the market in 2024. That is down from 50 percent in 2023.

An economist with Zillow says down payment assistance, first-time buyer tax credits, and flexible lending options have all helped to increase access for Black and African American households. Zillow research shows remote work options have also given some Black and African American renters more flexibility to consider homeownership in more affordable areas.

CHFA is committed to increasing Black and African American homeownership in Colorado. As part of that commitment, you are invited to Building Legacy: A Black Homeownership Series. The free event series will explore barriers and how to overcome such challenges, as well as the tools and financial resources available to become a homeowner and create the opportunity for generational wealth.

The first two events will be held March 22nd and June 28th from Noon to 2:00pm at CrossPurpose in Denver. During the first event in the series, Understanding and Overcoming Systemic Barriers, you will learn how to navigate and overcome systemic challenges and advocate for greater access to homeownership. In the second event of the series, Path to Homeownership – The Basics, you will be introduced to the steps to homeownership and how to plan your journey.

This series is meant to provide a supportive environment for you to learn and ask questions. Each event in the series builds upon the previous one, but attendance is not required at all events. You can join the event series at any point. You can register for the homeownership events here.

You can learn about CHFA’s investments and the communities they impacted in CHFA’s 2024 Community Report released in March. Last year CHFA invested $2.6 billion to support affordable housing and community development across Colorado.



Through these investments, CHFA was proud to assist Coloradans by:

• Serving 5,291 customers through CHFA’s home mortgage loan programs
• Helping developers create or preserve 5,502 affordable rental housing units with multifamily loans and/or Housing Tax Credits
• Supporting 3,955 jobs by serving 582 businesses with business lending programs
• Investing in 560 organizations statewide with donations, grants, and volunteerism



The report also provides a recap of CHFA’s 50th anniversary, including the various initiatives, events, and outreach celebrating CHFA’s historical impact as well as the partners who have made CHFA’s work and success possible. You can read the full 2024 CHFA Community Report on CHFA’s website.

Colorado Housing and Finance Authority

www.chfainfo.com