REALTOR® Cheyenne McGriff from South Dakota explains what first-time home buyers should do to get ready to buy a home and how to find success in a competitive real estate market. Melissa Dittmann Tracey shares whether buying a fixer-upper home is hot or not. And, Sean Moss from the Down Payment Resource gives a quick primer on down payment assistance programs and how a home buyer can utilize them to make a home purchase more affordable.
Washington, D.C. – March 22, 2024 (nar.realtor) National Association of REALTORS® President Kevin Sears released the following statement after the publication of the 2024 Economic Report of the President(link is external), which outlined support for increasing housing production and the need to address land use barriers:
“NAR is pleased that the Biden administration is moving forward to support approaches that address the lack of affordable housing supply. We commend their plan that:
Gives resources to localities to review their current zoning laws, especially as they relate to obstacles to new housing production;
Encourages tax benefits that incentivize converting commercial buildings to residential uses;
Supports regulatory approaches that encourage localities to plan for housing production and zoning reform;
Reduces and streamlines permitting and regulatory burdens without sacrificing safety and environmental quality;
And promotes housing development in transportation corridors.
“NAR has long advocated for such approaches to promote and accelerate housing production. There is much to be done to resolve the severe underbuilding gap and lack of affordable housing that exists today, but we are encouraged by the administration’s attention to this issue. Homeownership is still an essential part of realizing the American Dream and helping families create intergenerational wealth. We look forward to continuing to work with the Biden administration as it looks to tackle the issues of housing affordability and inventory in this country.”
The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.
Washington, D.C. – March 21, 2024 (nar.realtor) National Association of REALTORS’® President Kevin Sears commented on the recently released “Further Consolidated Appropriations Act, 2024,” which would extend the National Flood Insurance Program (NFIP) until September 30, 2024:
“On behalf of 1.5 million members, the National Association of REALTORS® calls on Congress to quickly extend the NFIP before it expires tomorrow. Americans deserve certainty and stability in the flood insurance marketplace so that they can protect their homes, businesses, and loved ones. Since 2017, the NFIP’s authority has been extended 29 times and allowed to lapse on several occasions briefly. Short-term extensions and lapses exacerbate uncertainty in real estate markets. Without access to flood insurance, American families must rely on federal disaster aid, which is severely limited. NAR estimates that an extended NFIP lapse could threaten 1,300 property sales per day and the recovery of thousands of small businesses and homeowners from the devastating effects of catastrophic flooding.
“We commend the House Financial Services Committee for continuing to work on a long-term reauthorization measure, and we look forward to Congress bringing stability and predictability to this essential program.”
The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.
