REALTOR® Party News – January 2025

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REALTOR® Party News – January 2025

In This Issue 

  • 2025 Outlook: A Year of Stabilization and Opportunities
  • Advocacy Scoop Podcast Outlines 2025 Tax Reform Priorities
  • NAR by the Numbers: What Building Relationships with the New Administration and Congress Looks Like so Far
  • Congress Passes Spending Bill, Sparing Disruptive NFIP Lapse
  • Fair Housing Skills Start Here—Fairhaven 2.0
  • Community Outreach Grants and Transforming Neighborhoods Programs Are Open for Associations to Apply
  • Register for the Ask an Appraiser Webinar on January 30
Long Island Board of REALTORS® volunteers building a parklet adjacent to Rockaway Brewing Company in Long Island, NY.

Long Island Board of REALTORS® volunteers building a parklet adjacent to Rockaway Brewing Company in Long Island, NY.

2025 Outlook: A Year of Stabilization and Opportunities

The housing market could open up more opportunities to home buyers in the new year and lead to a housing rebound after two years of sluggish sales, housing economists said during the National Association of REALTORS®’ Real Estate Forecast Summit. During the virtual summit, NAR released its 2025 housing forecast, predicting stronger home sales (rebounding after hitting a 15-year low this summer), moderating but still increasing home prices, a greater number of homes coming up for sale—both newly built and existing—as well as stabilizing mortgage rates.

Advocacy Scoop Podcast Outlines 2025 Tax Reform Priorities

In the latest episode of the Advocacy Scoop – A Taxing Conversation: New year, new season, and new policy priorities for NAR’s advocacy team. Shannon and Patrick delve into the complicated world of tax reform and how Congress and the administration plan to tackle the expiring Tax Cuts and Jobs Act (TCJA). From Opportunity Zone incentives, to the SALT deduction, to protecting 1031 like-kind exchanges, they discuss what’s on the table this year and what’s most important for REALTORS® and the fight for affordability, availability, and accessibility.

NAR by the Numbers: What Building Relationships with the New Administration and Congress Looks Like so Far

On January 3, 2025, over 70 new representatives were sworn into the 119th United States Congress. So far, NAR’s Government Advocacy Team has:

  • Met with all 70+ new members of Congress
  • Attended 100 events
  • Met with 3 transition teams:
    • The Trump transition team
    • The HUD transition team
    • The VA transition team
  • Met with the 2 new Chairmen of committees with NAR interests:
    • The House Financial Services Committee
    • The Senate Banking Committee
  • Met with the Ways and Means and Finance Committee on tax reform
  • Successfully advocated for the reintroduction of multiple pieces of legislation

Congress Passes Spending Bill, Sparing Disruptive NFIP Lapse

Congress passed a stopgap spending measure in December, averting a government shutdown and keeping vital housing programs running, including an extension of the National Flood Insurance Program (NFIP). A lapse in the NFIP, which provides necessary insurance coverage for thousands of real estate transactions nationwide, could have impacted as many as 1,300 home sales a day, according to research from the National Association of REALTORS®. This is the 32nd short-term extension of the NFIP since 2017.

In a statement, NAR President Kevin Sears thanked Congress for continuing to support the NFIP while making it clear the association wants a long-term solution for federal flood insurance.

NAR’s advocacy team was working feverishly behind the scenes to secure an extension of the NFIP. Joe Harris, NAR’s vice president of government advocacy, sent a memo to members, saying the association was working around the clock. “NAR is working closely with congressional leaders to secure an on-time extension [of the NFIP], including standalone and other possible legislative vehicles for an extension,” he wrote. “We are also educating members about the importance of extending funding for other housing programs.”

NAR also sent a letter to Congress the week leading up to the deadline, pointing out that the NFIP had been allowed to lapse several times before with great impact to consumers.

Fair Housing Skills Start Here—Fairhaven 2.0

Fair Housing Skills Start Here! Step into Fairhaven 2.0—NAR’s dynamic online simulation where your will tackle fair housing challenges head-on.New in 2025, all NAR members will be required to complete approved fair housing training in sync with the three-year Code of Ethics cycle. Members can satisfy this requirement at no cost with NAR’s Fairhaven 2.0.

Explore key topics like steering, bias, disability accommodations, and standing up for clients facing discrimination, and gain tools to create inclusive, equitable communities.

This course isn’t just about compliance—it’s about raising the bar for fair housing and creating inclusive communities where everyone can thrive.

What’s New?
• Expanded historical context to connect past housing injustices with present-day challenges.
• New scenarios addressing redlining, assistance animals, lending discrimination and more.
• Practical tools to handle fair housing dilemmas with confidence.

Dive into the simulation. Your commitment to fair housing begins here.

Register for the Ask an Appraiser Webinar on January 30

Register for Ask an Appraiser Webinar- Supporting Your Value. Join us on January 30 at 2:00 p.m. EST to hear updates from the experts on credible real property valuations.

Appraisers face a constant challenge to provide accurate property valuations amid changing market conditions. How do appraisers derive adjusted amounts from comparable sales data and what new technology can be used in the process?

Learn from the experts Jim Amorin, author of the Generative Shift, Preparing Appraisers For Artificial Intelligence Models Like Chat GPT, and Josh Walitt, educator and principal consultant at Walitt Solutions, who will dive into topics exploring the various AI tools that can be used to develop adjustments, how to use them and how appraisers can make sure the information they are getting with these tools is accurate.

RPAC Update

438 RPAC-supported races were successful in this year’s election, with a 97% win rate and a 50/50 breakdown of Republican and Democrat candidates. As of December 31, RPAC fundraising raised over $45.8 million at all three levels of the association. The Federal Disbursement Allocation exceeded the 2023-2024 Disbursement Allocation goal of $9,950,453, ending the year at $12.8 million raised at the national level—129% of its goal. RPAC has 11,637 Major Investors and 34% of NAR members participated in RPAC in 2024.

The REALTOR® Party At Work

REALTOR® Party Success Story

Long Island Board of REALTORS® Turns NAR Grants into Beloved Urban Space and Cherished Community Garden that Serve Multiple Generations 

REALTOR® Party Resource Spotlight

Transforming Neighborhoods Program Applications Due February 7 

Expert Advocacy Help When You Need It

Advance Policies to Promote Walkable, Vibrant Communities 

REALTOR® Party Playlist

NAR VP of Advocacy Joe Harris sits down with Tennessee REALTORS® ‘the Real Tea Podcast’ to give a comprehensive recap of the federal election. He dives into the important policies that NAR is tracking and shares how RPAC and NAR’s advocacy work is playing a vital role in protecting the real estate industry.

Link Library

Facts.realtor: Settlement information and resources

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