Housing Supply Solutions, What You Need to Know, Success Stories, and More
View e-mail in browser |
| October 13, 2022 |
|
  |
|
|
|
| Housing Supply Solutions |
| Housing supply is the number one issue for millions of consumers who are locked out of the market. NAR has been on the front lines for the past two years advocating for affordable housing – and spurring legislative and executive action. Read more about President Leslie Rouda Smith’s recent White House meeting to discuss solutions to the nation's housing supply and affordability crisis. |
|
|
|
|
|
|
|
|
|
|
| According to a recent analysis by Dr. Jessica Lautz, NAR’s vice president of demographics and behavioral insights, tight inventory means homes are still moving at a fast pace despite rising rates and prices. The median number of days on the market is just 16, up from 14 days in the previous two months. In comparison, homes took 96 days to sell in 2011. |
|
|
|
|
| The rate for a 30-year fixed mortgage hit the highest point in 16 years at the end of September, according to the Mortgage Bankers Association. NAR sent a coalition letter to the National Economic Council urging a reduction in the Federal Housing Administration’s annual mortgage insurance premium to help low- to moderate-income and first-time homebuyers remain competitive in the housing market. |
|
|
|
|
|
The More Homes on the Market Act, a bipartisan, NAR-endorsed bill recently introduced in the House of Representatives, would double the capital gains exclusion for sales of principal residences from $250,000 to $500,000 for single filers and from $500,000 to $1 million for married couples – and index these amounts for future inflation. While the bill is unlikely to move in 2022, it’s a great first step to build on next year when a new Congress convenes. |
|
|
|
|
On September 30, the President signed a continuing government funding resolution that extended the National Flood Insurance Program (NFIP), among other measures, through December 16, 2022. The short-term resolution averted a government shutdown, funding federal agencies and extending several expiring programs. |
|
|
|
|
| Spearheaded by President Leslie Rouda Smith, NAR announced a partnership last month with the National Forest Foundation to plant 1.575 million trees – at least one for each REALTOR® – across the United States by the end of 2025. |
|
|
|
|
|
| The REALTOR® Party At Work |
|
|
|
|
|
|
|
| Montana REALTORS® Deny Ballot Access to Damaging Property Tax Initiative |
| A “Decline to Sign” campaign led by Montana REALTORS® convinced voters to keep a damaging constitutional amendment proposal off the ballot, aided by polling and an Issues Mobilization Grant from the REALTOR® Party. While backers of the amendment sought to exploit public angst over residential property taxes, REALTORS® knew the measure would shift the tax burden to anyone buying property in Montana and disincentivize people from listing their homes for sale. |
|
|
|
|
|
|
|
|
| MIBOR REALTOR® Association Helps Transform Community Through Artwork |
| With the help of a REALTOR® Party Placemaking Grant, the MIBOR REALTOR® Association and the Heart of Lebanon Main Street organization injected color throughout downtown Lebanon, Ind., with butterfly-themed artwork. The Catalyst for Change project celebrates what’s on the horizon for the City of Lebanon while invoking a sense of pride in the local community. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expert Advocacy Help When You Need It |
Legislative and regulatory proposals that may harm property rights often arise quickly and require expert analysis. The Land Use Initiative will analyze planning and zoning-related measures that impact the transfer of real property to help state and local associations advocate on behalf of members. Learn how the Scottsdale Area Association of REALTORS® used the LUI to champion property rights and allow for future development.
Questions? Contact Christine Windle. |
|
|
|
|
|
|
|
|
| Advance Fairness and Integrity in Real Estate |
| Fair housing protects our livelihood as REALTORS® by ensuring that all qualified buyers in the market have access to the American Dream of homeownership. NAR’s ACT! Fair Housing Plan provides innovative fair housing trainings and resources to help you prevent discrimination in real estate. Visit NAR.realtor/fairhousing to learn more about these resources. |
|
|
|
|
| |
|
|
| |
| |
|
.png){kind=small}