With the government now in its longest-ever full shutdown, NAR has encouraged all 50 state REALTOR® associations to send letters to their senators and representatives urging them to reopen the government and outlining the harmful effects the shutdown is having on the real estate industry.
Spelling Out the Harm
NAR issued a letter for state associations to use, explaining that the shutdown has caused delayed home closings, canceled contracts and halted access to crucial housing programs. Specific disruptions include the suspension of the National Flood Insurance Program, delays in FHA and VA loan processing, a complete stop to USDA rural housing loans and limited HUD operations that affect rental assistance and community development initiatives. These setbacks are destabilizing the market and harming families, home buyers and sellers nationwide.
The letter emphasizes that each day of inaction worsens economic damage, citing the Congressional Budget Office’s estimate that the previous 30-day shutdown cost the U.S. $11 billion, with $3 billion permanently lost.
What’s Happening in Your State?
On Oct. 22, NAR issued a call for information to the full NAR membership. Different from a call for action, in which members click to send a message to their members of Congress, the call for information asks members to write and submit their own stories on the impact they’re experiencing from the government shutdown.
Engagement metrics will be significantly different from a typical one-click CFA. So far, NAR has received 164 submissions from across the country.
Early analysis shows:
- 68% of stories mention one or more federal housing programs (FHA, VA, USDA or NFIP).
- The most frequently cited impacts were VA (mentioned 95 times), USDA (75 times), and Flood Insurance/NFIP (74), followed by FHA (68).
- Roughly a dozen particularly compelling stories highlight direct hardship, family strain or delayed home purchases.
- Eighty-eight unique local associations were represented in responses (roughly 8% of local boards, using 1,100 as an overall local board count).
NAR had previously issued a targeted Call for Action, asking Federal Political Coordinators (FPCs) to reach out to their members of Congress and highlight the importance of NFIP to homeowners. The FPC Call for Action reached 75% of Congress within 48 hours and has now reached nearly all of its members.
“The longer the government remains shut down, the more profound the harm to America’s real estate market and to taxpayers,” says NAR Executive Vice President and Chief Advocacy Officer Shannon McGahn. “Our message is simple: The Senate must act swiftly to pass a clean, bipartisan continuing resolution or a long-term funding measure to reopen the government. Americans working to buy or sell a home, strengthen their communities or simply make ends meet in an uncertain market deserve reliability and stability from their government.”
Feeling the impact of the shutdown on your business? Share your story.
