STATE OF ASIA AMERICA
THE 21st CENTURY HOMEBUYER
About The Report
This year’s State of Asia America Report arrives at a moment of profound change. The story of American homeownership has long been one largely defined by steady ascent. For generations, homeownership offered a reliable path to stability, even with major disruptions like the 2008 housing crash. Today, however, the forces destabilizing the market are more structural than cyclical, and the patterns families once relied on are no longer behaving the same way.
Age 40
Median first-time buyer,
all time high
24%
of first-time buyers are single women
60M
Americans in multigenerational households
38%
of US households can qualify for a median-priced home
AANHPI families are living the future of housing — now
For decades, AREAA's annual State of Asia America report has tracked the housing conditions shaping our communities. This year, the forces we have long navigated — high costs, constrained mobility, multigenerational living — have become the defining story for all of America.
“What our households have long managed at the margins is now defining the broader market.”
What’s Inside
-
National forces reshaping the entire market
Mobility freeze, affordability decoupled from rates, climate-driven insurance collapse, AI as gatekeeper, supply mismatches, and the coming wealth transfer. These disruptions are creating real strains, but AANHPIs have already been living many of these trends.
-
Who is buying, how, and why it's harder
The rise of the single woman buyer, the 40-year-old first-timer, caregiving-centered households, alternative income as the new qualification tool, and why renting is becoming the new normal.
-
How homeownership builds and carries wealth
Urban Institute's first-of-its-kind longitudinal study: median equity reaches $180K in 5 years, $340K+ in a decade — and why that wealth often stalls before completing the generational cycle.
-
Multigenerational design, ADUs, and aging in place
Only 2% of U.S. homes are safe for aging in place. How families are responding with ADUs, retrofits, and flexible layouts, despite barriers in financing and supply.
A Message From Our Sponsor, RE/MAX
REMAX is proud to be a longstanding sponsor of AREAA and the State of Asia America report. For years, this partnership has reflected our shared belief that homeownership should be within reach for all communities. This comprehensive report brings clarity to the shifting dynamics of affordability, mobility, wealth building, and housing access across AANHPI communities.
For agents, the insights help inform smarter conversations, better guidance, and more culturally responsive service in today’s complex housing market.
Abby Lee
Chief Marketing Officer
REMAX World Headquarters