Building Diverse Communities and Associations, What You Need to Know, Success Stories, and More
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| February 10, 2022 |
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| Building Diverse Communities and Associations |
| It’s crucial for REALTORS® across the country to work together to address the racial homeownership gap and enhance diversity, equity, and inclusion efforts in their communities. As we celebrate Black History Month, this is a great time to make plans for your association to leverage the many resources available through NAR and the REALTOR® Party. Read more about what NAR is doing and how you can get involved. |
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| Recommended reading: Three S’s – safety, strength, and sustainability – will be the special focus for 2022 NAR President Leslie Rouda Smith. Hot off the presses, don’t miss her presidential profile in the winter issue of REALTOR® Magazine. |
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| The surging residential real estate market has led to record-high home prices and record-low inventory. Nationally, more than 400,000 fewer affordable homes are available for sale for households earning $75,000 to $100,000 when compared to the start of the pandemic. This “double trouble” has made it increasingly difficult for consumers, particularly Black Americans, to achieve homeownership, according to a new analysis from NAR and Realtor.com®. |
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| In 2021, existing-home sales totaled 6.12 million – an increase of 8.5% from the prior year and the highest annual level since 2006. NAR Chief Economist Lawrence Yun expects existing-home sales to slow slightly in the coming months due to higher mortgage rates but notes recent employment gains and stricter underwriting standards ensure home sales are in no danger of crashing. |
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| REALTORS® applaud the $53 million agreement reached by the National Fair Housing Alliance and a coalition of local fair housing organizations with Fannie Mae to compensate for unequal treatment of real estate owned (REO) properties in Black and Hispanic communities. Fannie Mae coming to the table and agreeing to pay this restitution sends a clear message that the maintenance and marketing of foreclosed homes must be done fairly in all areas. |
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| Young adults are returning to their families’ homes, but for how long? In 2020, the share of young adults aged 25 to 34 living at home grew to the highest share recorded since 1960: 17.8%. This number declined to 17% in 2021 – still the second-highest share recorded. Since 2016, an elevated share of buyers has moved directly from a family member's home into homeownership. |
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| The REALTOR® Party At Work |
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| Santa Barbara Association of REALTORS® Protects Rights of Coastal Homeowners |
| After spending eight years drafting a comprehensive coastal land use plan, the County of Santa Barbara, Calif. received official recommendations that would severely infringe on property rights and land use policies within a five-mile inland swath. The Santa Barbara Association of REALTORS® came to the defense of property owners with a consumer Call For Action in opposition to the powerful California Coastal Commission. |
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| That’s Who We R 2022 is Now Live |
| Check out the new TV and radio spots that demonstrate the real difference between REALTORS® and non-member agents. This new work is part of a multichannel media mix to reach our targeted audience of first-time buyers. As a member, you can access ads and social assets to share who you are and the value you bring. |
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