WASHINGTON (June 11, 2024) – National Association of Realtors® President Kevin Sears issued the following statement in response to the Department of Veterans Affairs (VA) announcement of a "Buyer-Broker Agent Temporary Local Variance Circular":

"The VA's home loan guaranty is the only program that explicitly bans buyers from directly paying for professional real estate representation. We applaud the VA for revising this policy and allowing veterans and active-duty service members the same advantages as other buyers in a competitive real estate market. 

The NAR Research team is a resource for REALTORS®, policymakers, and the public. Our skilled economists produce and analyze a wide range of data, providing the best resources and information on real estate.

• Congressional District and State Reports, State Economic Impact Reports, and Local Market Reports provide data on housing and real estate trends affecting states and localities, and demonstrate the benefits of homeownership and income generated by home sales in local economies.
• Reports on home buying by generations, income levels, and demographic groups analyze market trends and show how homeownership can be a catalyst to building generational wealth.

Homeownership is a cornerstone of the American dream, but it remains out of reach for many due to the nation’s severely limited housing inventory. The United States is currently facing an underbuilding gap of 5.5 million units, equating to a staggering $4.4 trillion underinvestment in housing. To bridge this gap and make homeownership accessible to more people, we must take decisive action to increase the housing supply.

The Role of Tax Policy in Promoting Homeownership

America’s tax laws play a crucial role in promoting homeownership, building stable communities, and boosting economic growth. The National Association of Realtors (NAR) is championing several bipartisan tax bills designed to address these challenges and provide effective solutions. Here’s a look at the key legislative initiatives NAR is advocating for:

1. The More Homes on the Market Act (H.R. 1321)