According to the most recent data, the national housing shortage is only getting worse, and for that reason, the National Association of REALTORS® (NAR) is committed to legislative priorities in 2025 that address the factors leading to the housing supply falling short by 3.8 million homes in 2024, and which would require more than 7.5 years for builders to catch up with that demand.
Real estate represents 16% of the nation’s GDP, supports 2.8 million jobs, and generates $50 billion in tax revenue nationwide, and roughly 88% of REALTORS® are small business owners and 62% are women, using their expertise to help consumers navigate the intricacies of real estate transactions.
NATIONAL REALTOR® PRIORITIES
- More Homes on the Market Act to decrease the equity penalty and incentivize more long-term owners to sell their homes.
- Revitalizing Downtowns and Main Streets Act to incentivize the conversion of commercial buildings into residential units and mixed-use properties.
- Neighborhood Homes Investment Act to attract private investment to build and rehabilitate owner-occupied homes.
- Yes in My Backyard (YIMBY) Act to encourage state and local governments to remove barriers to housing development and implement pro-growth policies.
- Most recently, the U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner and U.S. Department of the Interior (DOI) Secretary Doug Burgum announced a Joint Task Force on Federal Land for Housing to identify underutilized federal lands suitable for residential development, streamline land transfer processes and promote policies that increase availability of housing.
STATE LEGISLATION IN THE WORKS
The California State Legislature has been busy in the early months of 2025, with 2,541 bills having been introduced by the February 21st deadline. This legislative activity comes under new rules that have significantly impacted the legislative process, capping the number of bills each legislator can introduce over the 2025-2026 session.
Breaking this down, the Senate saw 850 introductions, while the Assembly introduced 1,500 bills. In a move aimed at promoting quality over quantity, both houses have implemented a limit of 35 bills per legislator for the two-year session. This represents a significant reduction from previous limits, allowing Assembly members to introduce up to 50 bills and Senators up to 40.
With these new restrictions in place, lawmakers are now required to be more selective in their legislative pursuits for the remainder of the cycle, which hopefully encourages more focused and impactful lawmaking.
C.A.R. IMPACT REPORT NOW AVAILABLE
The California Association of REALTORS® (C.A.R.) has released its 2024 Impact Report that details how C.A.R. served more than 200,000 members last year. C.A.R. is involved in the legislative and regulatory process at all levels of government to advocate for the interests of REALTORS® and their ability to conduct business.
Among the policies advocated for are protecting private property rights, increasing homeownership and opposing legislation and regulations that constrain homeownership, harm housing providers or limit our members’ ability to do business. C.A.R.’s work in government affairs saves members an average of $10K annually.
Additionally, C.A.R. supported bills that aim to streamline the development of housing projects, speed up permits, and promote homeownership opportunities for working Californians.
