June is National Homeownership Month, a time to share stories of lifechanging journeys and further our fight to increase access to homeownership for future generations.
As part of our monthlong celebration, NAR has partnered with the American Property Owners Alliance to promote a number of our shared priorities and policies. And, as the U.S. observes both Homeownership and Pride Month this June, we’ve also kicked off a new partnership with the LGBTQ+ Real Estate Alliance.
Recent research shows that America’s LGBTQ community holds an estimated $1 trillion in potential buying power in the housing market. NAR has been at the forefront of the fight to remove barriers to homeownership for the LGBTQ community, revising our code of ethics back in 2011 and 2014 to ensure REALTORS® uphold housing protections for members of this community. As NAR and The Alliance advocate on behalf of this expansive segment of potential home buyers, we believe we can help unlock much of that untapped spending power.
And, of course, many of these same policies will benefit the overall U.S. housing market. As prolonged, historic inventory shortages continue to push homeownership further out of reach for countless Americans, NAR is hard at work in Washington in search of potential solutions.
Across the nation’s capital, numerous down-payment grant and tax-credit proposals have recently been unveiled to help people get into their first home. These programs would be particularly beneficial for the millions of minorities, millennials and middle-income families for whom traditional tax incentives for homeownership are often no longer available. While these proposals from lawmakers are commendable, NAR’s advocacy team is fighting to ensure they come hand-in-hand with policies to increase the supply of safe, affordable housing.
In conversations with policymakers, we’ve highlighted proposals which would incentivize workers to enter into the construction industry with training tax credits, provide tax incentives to convert unused or underutilized commercial property into residential units, discussed potential reductions on lumber and steel tariffs, and stressed the importance of reexamining local zoning regulations, among numerous other potential solutions. These efforts are ongoing, and we recognize how critical NAR’s voice is as legislators continue working to address this complex nationwide problem.
For many REALTORS®, Homeownership Month lasts for 365 days. We see during every interaction with our clients the life-changing power that homeownership has for so many families — old and young. NAR is working this month and all months to ensure every American has the opportunity to realize that life-changing moment. Homeownership did not become the American Dream by accident, and it is still a dream worth fighting for.