Elevating Women in Real Estate
Did you know the number of women currently serving in Congress is the highest in history? This progress is great news, but with women holding just over a quarter of congressional seats, the legislative branch still has a long way to go to match the example set by our industry. As we celebrate Women’s History Month, read more about the ways real estate leads on elevating and empowering women – and how the REALTOR® Party can help.
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What You Need to Know
Homeownership brings tremendous wealth gains. A new study by NAR – Housing Wealth Gains for the Rising Middle-Class Markets – reports that between 2010 and 2020, nearly 980,000 middle-income households became homeowners, and total housing wealth for this income group surged by $2.1 trillion. A homeowner who purchased a typical single-family existing home 10 years ago at the median sales price of $162,600 is likely to have accumulated $229,400 in housing wealth.
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The U.S. homeownership rate climbed to 65.5% in 2020, up 1.3% from 2019 and the largest annual increase on record. More Americans are likely to own a home now than during any year following the Great Recession. Black Americans continue to face significant obstacles along the path to homeownership, while the rate for Hispanic Americans set a record and reached above 50% for the first time.
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The U.S. median list price set a record high of $392,000 in February, according to realtor.com®’s Monthly Housing Trends Report. Many markets continued to post double-digit annual price gains, while the number of homes for sale remains at record lows. Homebuyer demand remains high and home prices are surging as a result of competition for low housing inventories.
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Real estate property taxes are critical funding sources for local, state, and federal budgets. The pandemic continues to impact the country, but the average rate of property tax delinquency improved in 2021, falling to 5.9%, according to a new report from CoreLogic, which analyzes national and state real estate property tax delinquency levels spanning from 2011 to 2021.
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The REALTOR® Party At Work
Highlighted here are a few of the many REALTOR® Party success stories across the nation. These and others are cataloged in the Success Stories section on REALTORParty.realtor.
Housing Opportunity Grant Helps Bring Counselors of Real Estate to Spokane for Housing Needs Study and Action Plan
Recent census data has shown housing inventory in Washington state to be the lowest in the country – and the Spokane numbers are even worse. The Spokane Association of REALTORS® knew they needed a plan. With help from a Housing Opportunity Grant, they brought in the Counselors of Real Estate to provide an objective assessment of Spokane market conditions and roadblocks to affordable housing success – and guidance for moving forward.
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To Defeat Rent Control Ballot Initiative in Asbury Park, New Jersey REALTORS® Target Voters with Issues Mobilization Campaign
In the seaside city of Asbury Park, N.J., where more than three-quarters of occupied homes are rentals, rent control is a significant and often contentious issue. Early in 2021, just as the City Council unanimously adopted a REALTOR®-supported ordinance that would permit vacancy decontrol while enacting rent controls on properties with five or more rental units, a local affordable housing coalition submitted a ballot initiative to overturn it. With help from an Issues Mobilization Grant, state and local REALTOR® associations created a ballot question committee urging voters to uphold the original ordinance.
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Three North Carolina Communities Jumpstart Revitalization with Mainstreet Downtown Assessments
As many of the country’s tourism markets were taking a big hit from the pandemic, some communities in western North Carolina experienced a distinct uptick in interest and housing prices as visitors found their way along the scenic mountain parkways. Many of those visitors wanted to stay, and demand hasn’t decreased. In 2021, with the help of Smart Growth Grants, three communities explored how to capitalize on their existing assets to drive sustainable residential and commercial growth.
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Paws Fur Celebration: Space Coast Association of REALTORS® Uses Placemaking Grant to Build Community Dog Park
The Space Coast Association of REALTORS® received a Placemaking Grant to help build the Florida community’s third dog park. With assistance from several local businesses and the Brevard Zoo – and over 7,000 hours of work from community volunteers including REALTORS® – a vacant space was turned into a doggy playground.
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Resources & Opportunities
Grants Available: April is Fair Housing Month
State and local associations can leverage Fair Housing Grants to support fair housing month, fair housing events, and education that further the mission of fair housing. Review ideas for using a Fair Housing Grant for additional inspiration.
Questions? Contact Catherine Mesick at 202-383-7512.
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Build Smarter and Stronger Communities
Smart growth focuses on improving communities, making them more livable, sustainable, healthy, and prosperous. State and local associations can apply for a Smart Growth Grant to support advocacy for better land use, underwrite a transportation study, promote downtown revitalization or historic preservation, enhance walkability, and so much more. Access ideas for using a Smart Growth grant or search “Smart Growth” in REALTOR® Party success stories for ideas and inspiration.
Questions? Contact Hugh Morris at 202-383-1278.
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Registration Now Open: REALTORS® Legislative Meetings
Join us in advancing issues important to REALTORS® and consumers at the 2022 REALTORS® Legislative Meetings. The conference will be held the week of May 1-6, and most meetings will take place at the Gaylord National Resort & Conference Center. To register or for additional information, please visit the RLMTE website.
Your Domain is Waiting!
Building a successful online brand is the key to cultivating new clients and growing your business. Claim your free* .realtor® domain and learn more about all the virtual capabilities available at get.realtor. (*Free for the first year; one per member.)
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Exclusive March RTRN Offers
Stop searching and sifting – start showing and selling! Get the vetted tools and resources you need at Right Tools, Right Now.
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