NAREB affordable homeownership bus tour targets Black homeownership gap

The National Association of Real Estate Brokers (NAREB) has launched an eight-city Affordable Homeownership Bus Tour aimed at closing the Black homeownership gap by bringing housing education, lending resources and policy conversations directly into local communities.

The tour, led by NAREB President Ashley Thomas III, will visit Philadelphia; Baltimore; Detroit; Gary, Indiana; Kansas City, Missouri; Memphis; Little Rock and Tulsa over eight days beginning April 25. NAREB said the initiative is part of its national strategy to “Close the Gap” in Black homeownership and respond to widening affordability challenges for first-time buyers.

Black homeownership in the U.S. stands at 44.2%, far below the 75.1% rate for white families, according to NAREB’s 2025 State of Housing in Black America report. Only 33% of Black millennials are homeowners, compared with a 65% homeownership rate for white millennials. The report also cites unprecedented obstacles for Black women seeking to buy homes.

The tour is jointly presented by NAREB and the African American Mayors Association (AAMA) and backed by a coalition of local real estate boards, lenders, housing agencies, elected officials and faith-based organizations. NAREB affiliates including the NAREB Investment Division – Housing Counseling Agency and the Women’s Council of NAREB are also central partners.

NAREB said the eight tour cities were chosen based on localized housing data showing significant gaps between the share of Black residents and the share of mortgage originations to Black borrowers. In each of the eight markets, Black households make up a far higher share of the population than their share of new mortgages.

For example, in Philadelphia, Black residents are 39% of the population but received 28% of 2024 mortgage originations, while in Detroit, 81% of the population is Black, but only 63% of originations were for Black residents. 

According to NAREB, each stop will include programming designed to move renters toward sustainable ownership and protect existing homeownership in Black families. Sessions include a breakdown of renting versus owning, education on Section 8 housing choice vouchers, guidance on clearing title, preventing forced sales and preserving family-owned properties and sessions for NAREB-aligned developers on partnering with cities to deliver affordable, community-focused housing projects.

NAREB said the goal is for attendees to leave each event with actionable information, direct connections to housing professionals and lenders, and clearer next steps toward buying a home or preserving existing ownership.

Thomas framed the tour as a response to the urgency of today’s affordability environment for historically underserved buyers.

“We are committed to transforming the wealth landscape for historically underserved communities, one home at a time,” Thomas said in a statement. “By providing education, practical tools, and access to strategic partnerships, we are equipping families to create and sustain generational wealth through real estate.”

Additional partners in the tour include Alpha Phi Alpha, Delta Theta Sigma, Sigma Zetta, the NAACP, the National Council of Negro Women and the Urban League, according to NAREB.

The tour has also attracted support from national lenders and corporate sponsors that are active in mortgage origination and community investment, including Airbnb, Bank of America, KeyBank, Rate, U.S. Bank and Wells Fargo.

NAREB said more information and sign-up links for the city sessions are available online. The organization frames the initiative as “action and access” — using a short, intensive tour to connect households directly with resources, rather than relying solely on digital or centralized outreach.

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