NAR Legislative Priorities

Addressing housing affordability starts with adding to the nation’s severely limited inventory. The U.S. is facing an underbuilding gap of 5.5 million units, translating to a $4.4 trillion underinvestment in housing. America’s tax law can and must do more to promote homeownership, build stable communities, and boost economic growth.

REALTOR® Priorities

• Cosponsor the bipartisan More Homes on the Market Act to incentivize more long-term owners to sell their homes by increasing the maximum amount of capital gains a homeowner can exclude on the sale of a principal residence and annually adjusting it for inflation.
  • H.R. 1321 is sponsored by Representatives Jimmy Panetta (D-CA) and Mike Kelly (R-PA). 
• Cosponsor the bipartisan Neighborhood Homes Investment Act to attract private investment for building and rehabilitating owner-occupied homes by offering tax credits that create a pathway to neighborhood stability through sustainable homeownership. Providing this powerful incentive to build and rehabilitate homes for low- and moderate-income homeowners can fill the gap in areas where it is often more expensive to develop or rehabilitate than appraisal values will support.
  • S. 657 is sponsored by Senators Ben Cardin (D-MD), Todd Young (R-IN), Ron Wyden (D-OR), Jerry Moran (R-KS), and Sherrod Brown (D-OH).
  • H.R. 3940 is sponsored by Representatives Mike Kelly (R-PA) and Brian Higgins (D-NY).
• Cosponsor the Affordable Housing Credit Improvement Act or legislative provisions to expand the Low-Income Housing Tax Credit and encourage investment in creating and preserving affordable housing.
  • S. 1557 is sponsored by Senators Maria Cantwell (D-WA), Todd Young (R-IN), Ron Wyden, (D-OR), and Marsha Blackburn (R-TN).
  • H.R. 3238 is sponsored by Representatives Darin LaHood (R-IL), Suzan DelBene (D-WA), Brad Wenstrup (R-OH), Don Beyer (D-VA), Claudia Tenney (R-NY), and Jimmy Panetta (D-CA)
• Support small business by preserving the 199A qualified business income deduction and keeping taxes on business income lower for independent contractors and pass-through business owners.
• Support commercial real estate investment and economic development by preserving 1031 like-kind exchanges.
• Incentivize homeownership by increasing the $10,000 cap on the state and local tax (SALT) deduction and eliminate the penalty for married taxpayers filing jointly, who have the same maximum deduction as single filers.

As stewards of the right to own, use, and transfer private property, REALTORS® know an open housing market free from discrimination benefits consumers, communities, and the American economy. Yet, more than 50 years after passage of the federal Fair Housing Act, the homeownership rates for African Americans, Hispanic Americans, and Asian Americans lag behind that of White Americans. The LGBTQ+ community continues to face widespread discrimination in housing.

Bound by a Code of Ethics, REALTORS® are committed to upholding fair housing laws and removing barriers to homeownership.

REALTOR® Priorities

• Ensure veterans maintain access to professional representation and can compete in the market by giving VA buyers the option to compensate their broker directly.
• Cosponsor the Direct Seller and Real Estate Agent Harmonization Act to ensure real estate agents maintain their independent contractor status under the Fair Labor Standards Act and preserve their ability to choose their preferred business classification.
  • H.R. 5419 is sponsored by Representatives Tim Walberg (R-MI) and Tony Cárdenas (D-CA).
• Support the bipartisan Fair and Equal Housing Act to add sexual orientation and gender identity as protected classes under the Fair Housing Act.
  • H.R. 4439 is sponsored by Representatives Brad Schneider (D-IL) and Brian Fitzpatrick (R-PA).
• Reauthorize and increase funding for HUD fair housing enforcement programs. Congress should support legislation that reauthorizes and increases funding for HUD’s fair housing enforcement programs.

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.