REALTOR Party News – February 2022

Building Diverse Communities and Associations

It’s crucial for REALTORS® across the country to work together to address the racial homeownership gap and enhance diversity, equity, and inclusion efforts in their communities. As we celebrate Black History Month, this is a great time to make plans for your association to leverage the many resources available through NAR and the REALTOR® Party. Read more about what NAR is doing and how you can get involved.
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Recommended reading: Three S’s – safety, strength, and sustainability – will be the special focus for 2022 NAR President Leslie Rouda Smith. Hot off the presses, don’t miss her presidential profile in the winter issue of REALTOR® Magazine.

400K

The surging residential real estate market has led to record-high home prices and record-low inventory. Nationally, more than 400,000 fewer affordable homes are available for sale for households earning $75,000 to $100,000 when compared to the start of the pandemic. This “double trouble” has made it increasingly difficult for consumers, particularly Black Americans, to achieve homeownership, according to a new analysis from NAR and Realtor.com®.
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6M

In 2021, existing-home sales totaled 6.12 million – an increase of 8.5% from the prior year and the highest annual level since 2006. NAR Chief Economist Lawrence Yun expects existing-home sales to slow slightly in the coming months due to higher mortgage rates but notes recent employment gains and stricter underwriting standards ensure home sales are in no danger of crashing.
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$53M

REALTORS® applaud the $53 million agreement reached by the National Fair Housing Alliance and a coalition of local fair housing organizations with Fannie Mae to compensate for unequal treatment of real estate owned (REO) properties in Black and Hispanic communities. Fannie Mae coming to the table and agreeing to pay this restitution sends a clear message that the maintenance and marketing of foreclosed homes must be done fairly in all areas.
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$8.5M

Young adults are returning to their families’ homes, but for how long? In 2020, the share of young adults aged 25 to 34 living at home grew to the highest share recorded since 1960: 17.8%. This number declined to 17% in 2021 – still the second-highest share recorded. Since 2016, an elevated share of buyers has moved directly from a family member’s home into homeownership.
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REALTOR® Associations of Washington State and Kittitas County Dissuade Lawmakers from Doubling Real Estate Excise Tax

In central Washington, Kittitas County Commissioners were looking to generate revenue for certain infrastructure projects. A red flag went up when it became clear the funding would come from doubling the existing real estate excise tax. With an Issues Mobilization grant from the REALTOR® Party, the state and local REALTOR® associations launched a campaign that spread the word throughout the rural community, coupled with a Call For Action that gave residents a voice.
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REALTORS® Association of South Central Wisconsin Supports Development of Multifamily Housing

When lawmakers in Madison, Wis. took a step toward a zoning change that would increase affordable housing, REALTORS® generated a strong showing of public support with an Issues Mobilization campaign and a consumer Call For Action. The positive response counterbalanced vocal opposition from powerful homeowners’ associations and helped tip the City Council vote to a narrow win.
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Santa Barbara Association of REALTORS® Protects Rights of Coastal Homeowners

After spending eight years drafting a comprehensive coastal land use plan, the County of Santa Barbara, Calif. received official recommendations that would severely infringe on property rights and land use policies within a five-mile inland swath. The Santa Barbara Association of REALTORS® came to the defense of property owners with a consumer Call For Action in opposition to the powerful California Coastal Commission.
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Akron Cleveland Association of REALTORS® Creates a Healing Garden Through Placemaking

The Akron Cleveland Association of REALTORS® created a healing garden and pocket park in Akron, Ohio, with help from a Placemaking grant. Located on a previously unused and unkempt grassy lot, the garden features several perennial plants with known healing properties and a small fruit tree orchard. Neighborhood residents will be invited to take plant snippings for their personal use and gather to play games like chess.
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Leading on Diversity, Equity & Inclusion

Enhance your association’s diversity and inclusion efforts with NAR’s collection of Diversity, Equity & Inclusion Resources. Collaborate with local chapters of national multicultural real estate organizations to strengthen your association’s leadership and follow the Actionable Roadmap for Local Association Diversity and Inclusion to expand your association’s influence. Launch a new DEI effort with a Diversity and Inclusion Grant. Applications open March 1st.

Questions? Contact Ryan Davis at 312-329-8692.
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Fair Housing Month is Around the Corner

State and local associations can use Fair Housing Grants to support fair housing month, fair housing education, and partnerships with local organizations that further the mission of fair housing – plus satisfy the Core Standards fair housing requirement. Need ideas and inspiration? Access resources or search “Fair Housing” in REALTOR® Party success stories.

Questions? Contact Catherine Mesick at 202-383-7512.
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Engage in Housing Affordability Initiatives

Lay the groundwork for housing affordability initiatives in your region through the Housing Opportunity Grant program. View the Expanding Housing Opportunity Toolkit for success stories, State and Local Policy Strategies to Advance Affordability for policy solutions, and On Common Ground: Addressing the Housing Shortage for more on how all levels of government and the private sector are responding to the housing shortage.

Questions? Contact Christine Windle at 202-383-1135.
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Plan a Placemaking Project

Apply for a Placemaking Grant to help create a gathering spot within a downtown, community garden, or dog park as a way to participate in REALTORS® are Good Neighbors Volunteer Days (June 4-12). View the Placemaking Toolkit or Spaces to Places Blog for inspiration on bolstering REALTOR® pride and benefitting members by creating attractive, publicly accessible community assets.

Questions? Contact Catherine Mesick at 202-383-7512.
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That’s Who We R 2022 is Now Live

Check out the new TV and radio spots that demonstrate the real difference between REALTORS® and non-member agents. This new work is part of a multichannel media mix to reach our targeted audience of first-time buyers. As a member, you can access ads and social assets to share who you are and the value you bring.
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