The ROAD to Housing Act
One of the key initiatives supported by the National Association of Realtors (NAR) is the ROAD to Housing Act. This act aims to streamline permitting processes, increase infrastructure investments, and promote new developments to address the housing supply and affordability challenges faced nationwide. Since its introduction in the fall of 2024, NAR has been a vocal advocate for this legislation.
NAR President McGahn emphasized, “We don’t have a demand problem in this country, we have a supply problem.” The bill aims to tackle permitting delays, incentivize pro-housing reforms at the local level, and modernize federal programs to accelerate housing production and reduce costs for both buyers and renters.
While the bill made progress in the Senate, it faced challenges in the House. Despite this setback, NAR remains hopeful about the future of the ROAD to Housing Act, especially with the introduction of the House version known as the Housing for the 21st Century Act.
The More Homes on the Market Act
Another important piece of legislation supported by NAR is H.R. 1340, also known as the More Homes on the Market Act. This bill aims to raise the capital gains tax exemption limits to incentivize more long-term homeowners to sell their homes, thereby unlocking inventory in the housing market.
NAR’s efforts to reform capital gains tax rules have garnered bipartisan support, with the belief that increasing supply is crucial for addressing the current housing shortage. By updating outdated policies and thresholds, the More Homes on the Market Act seeks to ease price pressures and restore mobility in the housing market.
The Housing Supply Frameworks Act
The Housing Supply Frameworks Act (H.R. 2840) is another legislative priority for NAR. This bipartisan bill aims to create a national strategy for boosting housing production and affordability by reducing barriers to new housing development. By providing expert guidance and technical assistance to local and state governments, the bill seeks to increase housing supply across all price points.
With bipartisan support for measures to increase housing supply and affordability, NAR is optimistic about the progress that can be made in the new year. Housing affordability has become a bipartisan issue in Washington, with a growing recognition that the status quo is not working. NAR will continue to work with Congress and the Administration to advance practical, bipartisan solutions that expand supply, lower costs, and help more Americans achieve homeownership.