LGBT homeownerships rising but discrimination fears remain
An assessment by one of the nation’s largest LGBT trade organizations believes that LGBT homeownerships is increasing as more LGBT married couples are buying homes today.
However, the fourth annual LGBT Real Estate Report of the National Association of Gay and Lesbian Real Estate Professionals (NAGLREP) noted that these couples are still worried about housing discrimination.
This indicates that the LGBT community has shown greater interest in homeownership since the Supreme Court legalized same-sex marriage in 2015
However, there’s still the fear of not having safe and welcoming neighborhoods, which could explain why LGBT homeownership is lagging behind.
Views of NAGLREP on LGBT homeownerships
The report looked at the views of 33 percent of the nearly 2,000 members of NAGLREP to assess trends from LGBT renters, homebuyers, and sellers.
The report also used research from Freddie Mac, the National Association of Realtors, and other sources.
Of those who responded to the survey, 57 percent of the members believe more LGBT married couples are buying homes today, up from 47 percent in 2017.
56 percent of the members believe the LGBT community have a greater interest in homeownership, up from 46 percent in 2017.
LGBT homes away from their original homes
What’s more, only 32 percent of LGBT couple live in the same general location as where they went to high school.
Compare this to the report by North American Van Lines wherein 72 percent of Americans still live in or close to the city where they grew up in.
“Choosing where to live is the first step in the journey to homeownership, and right away we see the importance of being in an accepting and welcoming community,” said Jeff Berger, founder of NAGLREP.
“As LGBT people move from renting to home-buying, the right neighborhood remains critical,” Berger said, adding that “the fear of discrimination also plays an outsized role for the LGBT community.”
According to Berger, 46 percent of renters expressed fear about it during their future home-buying process.
Equality Act to affect LGBT homeownerships
The report by NAGLREP further noted the major implications of the Equality Act and its protections for the LGBT community on the real estate industry.
Fifty-five percent of the members believe that LGBT homeownership levels will go up by at least nine percent within five years of the act becoming law.
Presently, LGBT homeownership levels are at 49 percent versus the overall 65 percent throughout the country.
Unfortunately, 57 percent of the members believe the present policies of the Trump administration are having a negative impact on the LGBT community’s confidence to buy or sell a home.
What’s more, 30 percent of members believe the concern of housing discrimination is hindering renters they know from renting.