The following are brief highlights from this week's report:
NAR's 2020 Profile of International Transactions in U.S. Residential Real Estate finds that foreign buyers purchased $74 billion worth of U.S. existing homes from April 2019 through March 2020. This was a 5% decrease from the previous 12 months and the second consecutive annual decline in foreign investment.
In commercial real estate, NAR data finds that while construction spending declined 0.7% in June from May, multi-family construction picked up. Read NAR's July 2020 Commercial Real Estate Market Trends and Outlook report here.
NAR recently joined 12 commercial entities and nonprofit industry trade groups in urging Congress to take meaningful action in stimulus deliberations to protect the housing stability of millions of American families impacted by the COVID-19 pandemic. The same coalition also placed a print ad in POLITICO conveying this message.
NAR this week sent a letter to Senators Cory Gardner (R-CO) and Doug Jones (D-AL), thanking them for their efforts to develop and introduce the American Dream Down Payment Act. This comes just weeks after NAR came out in public support of Congressman Sean Maloney's (D-NY) First Time Homebuyer Pandemic Savings Act.
The Center for REALTOR® Financial Wellness will offer a webinar called "The Ultimate Guide to Real Estate Investing" on Wednesday, August 26 at 2 PM EDT. Register here.
NAR Director of Fair Housing Policy Bryan Greene released a special video message titled "The Reaffirmation of Fair Housing Principles." In this video, Bryan explains why NAR's fair housing principles are so important in this current climate. Please watch his video here.
As many communities and businesses are re-opening, the Centers for Disease Control and Prevention (CDC) issued guidance for people to resume some daily activities as safely as possible; please share it with your members and colleagues. The CDC guidance also includes tips for running essential errands and participating in personal and social activities.
Stay in touch with the latest on our advocacy efforts on the pandemic with our REALTOR® Party Mobile Alerts by texting COVID19 to 30644. You'll get information on how we're fighting for members, and how recently passed legislation affects you. The response you'll receive will send you to visit NAR.Realtor/coronavirus for the latest information.