WASHINGTON (July 16, 2020) – National Association of Realtors® President Vince Malta issued the following statement after the White House finalized its rule to modernize the National Environmental Policy Act. Wednesday’s announcement, which culminated a multi-year review and public comment process, is intended to accelerate environmental reviews under NEPA to ensure U.S. infrastructure projects are completed more efficiently and affordably.

“While uncertainty will continue to define the coming months, any action policymakers can take to inject some stability and confidence into our markets is welcomed with open arms by America’s 1.4 million Realtors®,” said Malta, broker at Malta & Co., Inc., in San Francisco, CA. “Since NEPA was last updated four decades ago, the real estate industry has seen countless infrastructure modernization projects paralyzed by arbitrary delays and unreasonable cost increases, barriers which today are felt more heavily because of the COVID-19 pandemic. As we push to safely and sensibly reopen our nation, NAR applauds the White House’s continued efforts to balance much-needed environmental protections with economic development in America.”

The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

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