June is National Homeownership Month, when we promote the benefits of homeownership and recommit to creating opportunities for future homeowners. REALTORS® strive to ensure all Americans have the opportunity to achieve homeownership, the centerpiece of the American Dream and the pathway to economic well-being and intergenerational wealth-building.
This year, BRR will be highlighting five main resources from the National Association of REALTORS®:
- Virtual Homeownership Month Briefing
- White House Proclamation
- NAR Landmark Report
- What NAR Is Doing
- 2022 Obstacles to Home Buying
Read on to learn more about National Homeownership Month!
On Tuesday, June 21, at 9 a.m. MT, Dr. Jessica Lautz, NAR’s vice president of demographics and behavioral insights, will offer a virtual Homeownership Month briefing on challenges and opportunities in the current housing market.
Registration is now open! Mark your calendars and claim your spot here.
The White House recently acknowledged National Homeownership Month with a new proclamation affirming the importance of expanding access to safe, affordable housing.
A landmark report commissioned by NAR last year found the U.S. has developed an “underbuilding gap” of 5.5 million housing units over the last 20 years. This translates into a $4.4 trillion underinvestment in housing.
The housing shortage is constraining homeownership opportunities for too many Americans.
There are currently 165,000 homes listed for sale that middle-income families can afford to buy, a marked decline from 450,000 homes in 2019.
For middle-income households, there is only one affordable listing for every 125 households, a stark decrease from one listing for every 46 households in 2019.
Over the last two years, the percentage of single-family homes sold below $250,000 has plummeted from 47% of sales to 28%.
NAR is working closely with the Biden administration, Congress, and our industry partners on solutions to increase homeownership opportunities in America. NAR’s work over the past year with the Biden administration on comprehensive policy proposals is building consensus that decisive action is needed.
Learn more about everything NAR has done (and is continuing to do) here.
The report, conducted in partnership with Morning Consult, explores current obstacles to home buying broken down by race/ethnicity – with the lack of affordable homes ranking as the top obstacle holding back potential home buyers of all races.
