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Priority Issues One-pager (PDF: 143 KB) | Talking Points (PDF: 293 KB)
REALTORS® serve residential and commercial property buyers and sellers in every zip code. Members of the National Association of REALTORS® provide critical support to consumers, serving as a trusted advisor through one of the biggest financial decisions of their lifetime.
With current market challenges like rising prices and low inventory, as well as shifting trends in commercial real estate, those seeking to buy or sell a home or open or expand a business know they need a REALTOR® by their side.
Today’s Real Estate Market: Quick Facts
- Considering the historical average level of housing construction and the 14 years of underproduction, our country still lacks 4.7 million homes.
- Middle-income buyers are feeling the inventory shortage the most. About 376,200 listings in the price range of $250,000 and under are missing from the market.
- Homeownership greatly enhances family net worth. Homeowners have 40 times the net worth of renters. Home equity and retirement accounts represent over 60% of households’ net worth.
- In the last decade, middle-income homeowners have accumulated more than $125,000 in wealth due to price appreciation alone.
- Real estate represents 17.8% of U.S. GDP. Each home sale produces $125,000 in local economic activity and generates two jobs.
- In 2023, state and local governments collected more than $760 billion in property tax revenue. Property taxes accounted for 37.6% of state and local tax receipts.
- Real estate professionals are vital to thriving communities. 88% of REALTORS® are independent contractors at their firms and 65% are women, using their professional expertise to help consumers navigate the intricacies of real estate transactions.
Update America's Tax Law and Increase Access to Homeownership
Addressing housing affordability starts with adding to the nation’s severely limited inventory.
REALTOR® Priorities
- Cosponsor the More Homes on the Market Act (H.R. 1321) to decrease the equity penalty and incentivize more long-term owners to sell homes.
- Cosponsor the Neighborhood Homes Investment Act (S. 657/H.R. 3940) to attract private investment to build and rehabilitate owner-occupied homes.
- Cosponsor the Revitalizing Downtowns and Main Streets Act (H.R. 9002) to incentivize the conversion of commercial buildings into residential units and mixed use properties.
- Cosponsor the VA Housing Loan Forever Act (H.R. 8607) to allow certain descendants of veterans to take advantage of their unused VA home loan benefit.
Expand Housing Supply and Ensure Access to Professional Representation
REALTORS® are committed to ensuring everyone has the opportunity to reap the wealth-building benefits of homeownership, knowing homeowners accrue 40 times the net worth of renters. 88% of REALTORS® are small business owners and 65% are women, using their expertise to help consumers navigate the intricacies of real estate transactions. Bound by a Code of Ethics, REALTORS® are committed to upholding fair housing laws and removing barriers to homeownership.
REALTOR® Priorities
- Cosponsor the Yes in My Backyard (YIMBY) Act (S. 1688/H.R. 3507) to encourage state and local governments to remove barriers to housing development and implement pro-growth policies.
- Cosponsor the Direct Seller and Real Estate Agent Harmonization Act (H.R. 5419) to ensure real estate agents maintain their independent contractor status under the Fair Labor Standards Act.
NAR Research Helps Inform Policymaking
The NAR Research Group is a resource both for REALTORS® and the members of Congress who represent them. Our skilled economists produce and analyze a wide range of data, providing the best resources and information on real estate.
Research reports, papers, case studies, and surveys examine the latest trends and activities in real estate, as well as the impact national policies have or may have on this critical sector that makes up one-fifth of the nation’s economy.
These resources are available to policymakers, and we encourage their use when considering legislation that affects real estate and real estate professionals. Here are a few recent NAR Research reports that can inform policymaking:
- Congressional District and State Reports, State Economic Impact Reports, and Local Market Reports provide data on housing and real estate trends affecting your constituents to inform policies supporting sustainable and affordable homeownership and a vibrant residential and commercial real estate market.
- Reports on home buying, such as Home Buyers and Sellers Generational Trends, Wealth Gains by Income and Racial/Ethnic Group, and A Snapshot of Race and Home Buying in America analyze market trends and show how homeownership can be a catalyst for building generational wealth.
- NAR Research and Realtor.com® partnered on The Issue: Housing Affordability and Supply to estimate how many homes are missing by income level, comparing the number of homes available and affordable for each level now versus what they should be able to afford in a balanced market.
- Commercial Market Insights Reports and Commercial Real Estate Metro Market Reports reveal the crucial role of commercial real estate in revitalizing communities.
These and many more reports, surveys, and data collections are available on the NAR Research page.
