The NAACP and The National Association of Real Estate Brokers announced a shared commitment and partnership Tuesday that will ensure that Black individuals and families have access to quality financial education, appropriate financial products, accredited counseling services, and financial assistance wherever available — all centered around and pointing to increasing Black wealth through homeownership.
The organizations’ Memorandum of Understanding, signed Feb. 18, further strengthens and expands the relationship between NAACP units and NAREB’s certified branch offices. This signing is extremely timely, as NAREB, the nation’s oldest professional, minority real estate trade organization, recently concluded its 73rd Mid-Winter Conference on Feb.13, immediately following an extremely optimistic six-month increase in Black homeownership rates.
“NAREB stands together with the NAACP in this commitment to our members, leaders, and most importantly, our clients and constituents, with the goals, objectives, and initiatives outlined in this memorandum of understanding,” NAREB President Donnell Williams said in a statement. “The ‘R’ in NAREB stands for ‘Relationships’ and this agreement demonstrates the power of relationships through partnership. We are grateful for this opportunity to fortify and expand our current relationship with the NAACP, which has proven to be a pillar organization for our people for 110+ years.”
According to the latest U.S. Census Bureau reports, Black homeownership trended upward for two consecutive quarters, from a low of 40.6 percent in the second quarter of 2019 to ending the year at a rate of 44 percent.