September 2025 – REALTOR® Party Newsletter
In This Issue
- Regulation Nation: Housing Edition
- Home Equity Tax Top of Mind in Congress
- Let’s Get Social – How to Stay Connected to NAR Advocacy
Advocacy Scoop Podcast
Regulation Nation: Housing Edition
Buying or selling a home is one of the most highly regulated transactions in a person’s life. In this episode, Shannon and Patrick unpack the complex world of real estate regulations—exploring what they mean for NAR members, how they affect consumers, and the role NAR’s advocacy team plays in shaping them. Wherever you practice real estate, chances are the National Association of REALTORS®, along with your state and local associations, has influenced how your state’s real estate regulations are put into practice.
Listen to the most recent episode here.
Capitol Pulse
Government Funding Deadline Looms
The U.S. House of Representatives passed a stopgap funding bill intended to keep the government running through November 21 and avert a partial shutdown set for October 1. Now, the bill heads to the Senate, which must approve it (or some alternative funding measure) before the clock runs out at the end of the fiscal year on September 30. If a measure isn’t passed and signed into law by both chambers by October 1, many federal operations risk being shut down.
Here is what a government shutdown could mean for the real estate industry.
Home Equity Tax Takes Center Stage
As another high-profile bill, the No Tax on Home Sales Act, is introduced in Congress—joining the bipartisan More Homes on the Market Act—it’s clear that capital gains reform for home sales is surging to the forefront of the housing policy debate. The issue is even on President Trump’s radar: In a recent Oval Office exchange, the president said, “We are thinking about no tax on capital gains on houses.”
The issue centers on the 28-year-old capital gains threshold. Current law allows individuals to exclude from their taxable income up to $250,000 in gain on the sale of their house. Married couples filing jointly get a $500,000 exclusion.
With the increased attention to this issue, NAR has created a landing page for members and elected officials to learn more about our advocacy efforts. The landing page includes REALTOR® Magazine stories, policy briefs, and advocacy summaries on capital gains. The page also includes a handy map to see what percentage of homeowners are impacted under the current policy. To learn more, check out the link below.
President Trump Considers Declaring National Housing Emergency This Fall
The Trump administration is considering emergency measures to address the housing affordability crisis that has left millions struggling to pay rent and priced out of homeownership.
“If a national emergency is declared, NAR stands ready to work closely with the administration, Congress, and state and local leaders to advance targeted reforms that increase inventory, improve affordability, and keep homeownership within reach,” says Shannon McGahn, NAR’s executive vice president and chief advocacy officer.
Saving the American Dream Act: a New Path Forward for Housing Policy
In a significant move to address the growing housing affordability crisis, a bipartisan group of lawmakers has introduced the Saving the American Dream Act, legislation designed to enhance federal coordination on housing data and policy. The bill, introduced by the co-chairs of the bipartisan Congressional Real Estate Caucus — Representatives Mark Alford (R-Mo.), Lou Correa (D-Cali.), Tracey Mann (R-Kan.), and Brittany Pettersen (D-Colo.) —, aims to improve the quality of housing-related research and ensure more effective, evidence-based policymaking.
Read more here.
NAR Signs Letter Urging Senate to Include ROAD to Housing Act in National Defense Authorization Act
Following unanimous passage out of the Senate Banking Committee in late July, NAR joined a broad coalition of groups in a letter urging Senate Majority Leader Thune to include the ROAD to Housing Act in the National Defense Authorization Act.
With housing costs consuming an ever-larger share of family budgets nationwide, the bill offers a multipronged approach to increasing supply, reducing barriers to development and creating new pathways to homeownership.
Homebuyers Privacy Protection Act Signed into Law
On Septebmer 5, 2025, President Trump signed the Homebuyers Privacy Protection Act into law. This bipartisan legislation will prevent homebuyers from being inundated with unsolicited calls, texts, and emails from competing lenders offering loans.
NAR and a broad coalition of partners fought for years to end the use of mortgage credit trigger leads, an abusive practice where after applying for a mortgage loan, credit reporting agencies sell a consumer’s data —without the consumer’s knowledge or consent— to other competing lenders or mortgage brokers as leads.
Housing Is a Bipartisan Issue
The Bipartisan Real Estate Caucus hit a milestone, with over 100 members (61 Democrats, 49 Republicans; up from 50 total last year). This growth reflects the strength of NAR’s message and our powerful relationships on Capitol Hill.
Let’s Get Social
We know that as a regular reader of the REALTOR® Party Newsletter, you’re plugged in on what NAR Advocacy is doing for you. To make sure you never miss a story or highlight from us, follow us on your favorite social media platform where we post regular updates on news, policy wins, and what the NAR Advocacy team is up to.
Here are a few examples of the highlights we’re sharing:
RPAC Update
RPAC is making strong progress to our 2025 goals, with 70% of our overall fundraising goal achieved so far. RPAC participation is also strong, with over 400,000 members participating so far.
The President’s Circle program has met and exceeded its participation goal for 2025, raising over $2 million for federal candidates, with over 1,300 investors.
Just Launched: The Pro-Property Platform
Last month, we launched the Pro-Property Platform — a new way for REALTORS® and their communities to support federal candidates who champion homeownership, private property rights, and the real estate profession.Visit ProPropertyPlatform.com to learn more.
The REALTOR® Party At Work
Advocacy Everywhere helps expand REALTOR® influence on public policy and boosts engagement in Calls for Action at all levels. In 2025 so far:
REALTOR® Party News
Expert Advocacy Help When You Need It
The Land Use Initiative provides free expert analysis and talking points to counter harmful measures like transfer taxes, building moratoria, short-term rental regulations, and more. See how the Oklahoma City REALTORS® Turned to Land Use Initiative for Help Advancing Urban Core ADU Ordinance. For more information, visit the Land Use Initiative and a recording of a recent webinar. Questions? Contact Christine Windle.
REALTOR® Party Success Stories
- Illinois REALTORS® and Quad City REALTORS® Use Polling and Issues Mobilization Grant to Defeat Threat of Home Rule in East Moline – Read more here
- Keeping Legislative Attention Focused on Housing, Utah REALTORS® Achieve Passage of Priority Bills – Read more here
- Illinois REALTORS® and Champaign County Association of REALTORS® Successfully Campaign Against Property Tax Increase – Read more here
- From Title to Tranquility: A REALTOR® Legacy Comes to Life – Read more here
Link Library
FlyIn.realtor: Advocacy talking points and priorities
RealtorParty.realtor: REALTOR® Party grants and resources
NAR.realtor/AdvocacyMission: How NAR is making housing more affordable, available, and accessible
NAR.realtor/AdvocacyWins: One-stop shop for advocacy successes
Washington Report: Policy updates
APOA: Where the Fight to Protect Property Rights Goes in 2025
Facts.realtor: Settlement information and resources
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