Recent studies have shown that houses bought and sold by people of color are valued at lower rates than transactions involving white people.
New Jersey lawmakers have moved to make that illegal by prohibiting discrimination in housing appraisals and requiring real estate appraisers to undergo anti-bias training. The legislation, approved in late June, builds on an initiative from the state attorney general in January and a separate Biden administration plan to tackle disparities in property values.
The bill (A-2280/S-1311) awaits Gov. Phil Murphy’s signature and social justice advocates are applauding the bill’s passage, saying the legislation is critical to combat systemic racism. As Black, Latino and Asian Americans face lower homeownership rates than white Americans, housing appraisal discrimination becomes one more socioeconomic barrier.