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A new study out of Duke University finds that black and Hispanic home buyers are paying up to 3.5 percent more than white home buyers for comparable homes.
Researchers looked at two million home sales from 1990 to 2008.
The study’s senior author, Patrick Bayer, says it’s not clear why minority home buyers are paying more.
One possible explanation could be that a larger percentage of black and Hispanic home buyers are new to the market, and as a result may not be experienced in negotiating the price.