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National Association of Realtors® President John Smaby commended Congress for passing a two week extension for the National Flood Insurance Program.

Only the Midwest experienced growth, while the remaining three regions of the U.S. reported a drop in their respective contract activity.

NAR’s global alliances help Realtors® establish worldwide business partnerships and referral opportunities. NAR's newest alliance is with SNPI, a French institution with over 8,000 members.

Lawrence Yun, NAR’s chief economist, said he is not overly concerned about the 0.4% dip in sales and expects at least moderate growth very soon.

Representatives from NAR heard from HUD, FHA, RHS, and VA officials regarding a host of regulatory issues impacting the housing industry.