2019 LGBT Real Estate Report – Discrimination Impacts Potential LGBT Home Buyers
NAGLREP’s 2019 LGBT Real Estate Report goes further than any in our history utilizing a partnership with Freddie Mac to showcase how housing discrimination truly impacts the LGBT community in its path to homeownership.
The report, released prior to the NAGLREP’s third annual LGBT Housing Policy Summit on April 10-11 at HRC in Washington, D.C., found that LGBT homeownership rates are 16% below the national average. The number is low partly because 46% of LGBT renters fear discrimination in their future home buying process.
A survey of more than 640 NAGLREP members found this fear impacts LGBTs in several ways. 44% of members said these potential buyers are anxious about how welcoming their potential community/neighbors while 40% said these LGBTs would be overly concerned with neighbor and community reaction if they were to have children.
27% of NAGLREP members believe LGBTs will “settle” for a home without fully exploring choices while 24% believe the fear of discrimination will force them to remain renters.
“The survey is the first time we have explored how the potential of housing discrimination impacts on LGBT homeownership rates and the timing of the report could not be better,” NAGLREP founder Jeff Berger said. “The Equality Act, which would protect LGBTs from discrimination in a variety of areas, including housing, was just re-introduced in Congress and we will leverage our LGBT Housing Policy Summit to learn where things stand and how we can further educate the real estate industry at the local and state level.”
NAGLREP members are bullish on the future of the Equality Act. A majority (62%) of members believe passage will be within four years. And, when it passes, 47% of members believe LGBT housing rates will increase 5% or more.
The report also showed that NAGLREP members continue to outperform the average NAR member. 39% of NAGLREP members closed 21+ transaction last year compared to just 26% for the overall Realtor® population, while 38% had $6 million + in sales volume compared to NAR’s 17%.