NAREB Announces 8-City Affordable Homeownership Bus Tour to Help Close the Gap In Black Homeownership
Ashley Thomas, NAREB President
Cross-country bus tour inspiring homeownership will stop in Philadelphia, Baltimore, Detroit, Gary, Kansas City, Memphis, Little Rock & Tulsa
WASHINGTON, DC, UNITED STATES, April 16, 2026 /EINPresswire.com/ -- The National Association of Real Estate Brokers (NAREB) today announced the launch of its Affordable Homeownership Bus Tour, a major national initiative bringing housing affordability solutions directly to communities. Under the leadership of NAREB President Ashley Thomas III, the tour unites housing experts, local leaders, lenders, and real estate professionals to help individuals and families achieve and sustain homeownership.
Homeownership is a powerful path to wealth creation and economic stability. However, the Black homeownership rate is currently at 44.2%, significantly lower than the 75.1% enjoyed by White families. Only 33% of Black millennials own homes, a stark contrast to the 65% homeownership rate of their White counterparts. Additionally, NAREB’s 2025 State of Housing in Black America (SHIBA) report reveals that Black women face unprecedented challenges in their pursuit of homeownership.
Recognizing the urgency of this moment, Thomas created the Affordable Homeownership Bus Tour to address the growing gap between housing affordability and homeownership opportunity. The multi-city trip to Philadelphia, PA, Baltimore, MD, Detroit, MI, Gary, IN, Kansas City, MO, Memphis, TN, Little Rock, AK, and Tulsa, OK is part of NAREB’s national strategy to Close the Gap in Black homeownership. The initiative aims to deliver substantive education to communities, elevate data-driven conversations about affordability, connect residents to real-time homeownership opportunities, and build partnerships that support long-term housing solutions. More information is available at www.closingthegaptour.com, and people can sign up HERE for the sessions held at tour stops in the various cities.
“Our mission is clear, and more urgent than ever,” said Thomas. “We are committed to transforming the wealth landscape for historically underserved communities, one home at a time. By providing education, practical tools, and access to strategic partnerships, we are equipping families to create and sustain generational wealth through real estate. This journey is not one we can take alone. We invite our partners to join us, block by block, city by city, on the frontlines of meaningful, lasting change. Together, we are Closing the Gap and turning opportunity into ownership and ownership into legacy.”
The tour, jointly presented by NAREB and the African American Mayors Association (AMMA), represents a national call to action that unites many public and private sector partners and brings together a broad coalition, including local real estate boards, financial institutions, housing agencies, elected leaders, and faith-based organizations.
Emphasizing the importance of this collaboration, Phyllis Dickerson, the AMMA CEO, said, “We're so proud to support our AMMA Business Council members and the National Association of Real Estate Brokers as we launch an eight-city affordability bus tour, bringing critical economic empowerment, housing, education, and wealth-building resources directly into communities led by our member mayors,” Dickerson said. “This partnership reflects our shared commitment to expanding access, creating opportunity, and strengthening pathways to homeownership.”
The tour is supported by many additional partners, including Alpha Phi Alpha, Delta Theta Sigma, Sigma Zetta, the NAACP, the National Council of Negro Women, and the Urban League. Key NAREB affiliates, including the NAREB Investment Division - Housing Counseling Agency and the Women's Council of NAREB, are also central to the effort.
The eight cities chosen for the tour were selected based on localized housing data that reveals stark disparities in mortgage originations for Black residents. In Philadelphia, Black residents make up an estimated 39% of the population, but accounted for only 28% of mortgage originations in 2024. In Baltimore, which has a 57% Black population, only 45% of originations went to Black buyers. Detroit features an 81% Black population, yet Black residents accounted for just 63% of originations. In Gary, Black residents represent 79% of the population but only 64% of originations. Kansas City has a 24% Black population who have only 13% of their originations. Memphis has a 61% Black population but just 41% of originations. In Little Rock, Black residents make up 39% of the population but received 24% of the originations. In Tulsa, Black residents comprise 14% of the city’s population but account for 8% of mortgage originations.
To address these local challenges directly, the Affordable Homeownership Bus Tour will visit the eight cities in eight days with events in each location. The journey begins on April 25 in Philadelphia, PA, before moving to Baltimore, MD on April 26. The tour arrives in Detroit, MI, on April 27, followed by Gary, IN, on April 28. On April 29, the tour stops in Kansas City, MO, before heading to Memphis, TN, on April 30. The final two stops will take place in Little Rock, AK, on May 1, and Tulsa, OK, on May 2.
Each stop on the tour will feature comprehensive programming that equips attendees with the knowledge and tools needed to navigate today’s housing market. The "Renting vs. Owning: Building a Better Future" session will explore the true costs of renting versus buying, breaking down the financial and lifestyle benefits of homeownership. The "From Housing to Homeownership" segment will show attendees how Section 8 housing certificates can serve as a pathway to homeownership, outlining steps to turn rental assistance into real ownership.
Another critical session, "Heirs Property Rights," will teach participants how to secure property rights and prevent the loss of family-owned homes, ensuring wealth and legacy remain in the family for generations. Attendees can also participate in a "Town Hall: Affordable Solutions," joining city officials and community leaders to discuss actionable solutions to increase housing affordability and expand access to lending programs. The "Development for the People" session will assist NAREB developers nationwide in partnering with cities to create community-focused developments that deliver affordable housing opportunities.
Corporate sponsors include Airbnb (Philadelphia, Kansas City, Memphis); Bank of America (Philadelphia, Baltimore, Detroit, Kansas City, Memphis, Little Rock, Tulsa); KeyBank (Philadelphia, Detroit) Rate (Philadelphia, Detroit, Gary); US Bank (Kansas City), and Wells Fargo (Philadelphia, Baltimore, Detroit).
At its core, the Affordable Homeownership Bus Tour is about action and access. Attendees will leave with tangible resources, connections to trusted housing professionals, and a clearer route toward homeownership. For many communities, these events will serve as a critical entry point into programs that can help families move from renters to owners and begin building lasting generational wealth.
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For print or broadcast interviews with NAREB President Ashley Thomas III, contact Michael Frisby at mike@frisbyassociates.com or 202-625-4328.
Download the 2025 State of Housing in Black America Report
About The National Association of Real Estate Brokers
The National Association of Real Estate Brokers (NAREB) is a premier network of Black real estate professionals. Founded in 1947, NAREB is dedicated to promoting democracy in housing and closing the wealth gap by empowering communities through education, advocacy, and sustainable homeownership pathways.
Michael K. Frisby
Frisby & Associates
+1 202-625-4328
email us here
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