Monday Minute: Week of June 1, 2020

Both the House and the Senate are in session this week. What issues should REALTORS® follow? CARES Act Title IV Implementation; COVID-19 Impact on Small Business (NAR Likely to Submit a Letter).Hearing Schedule* Tuesday, June 2 Implementation of Title IV of the CARES Act – Senate Banking, Housing and Urban Affairs Committee Watch the live [...]

By |2020-05-29T21:22:13+00:00May 29th, 2020|Uncategorized|0 Comments

FHA Premium Legislation

Senators Peters (D-MI) and Cornyn (R-TX) have introduced S. 3639, the ‘‘Housing Financial Literacy Act of 2019.’’ This bill will permit first time buyers who have gone through approved counseling to lower their FHA mortgage insurance premiums. S. 3639 will help homebuyers gain a greater understanding of mortgage and homeownership responsibilities while improving housing affordability. [...]

By |2020-05-29T17:34:35+00:00May 29th, 2020|Uncategorized|0 Comments

House Passes PPP Flexibility Act

On Thursday, May 28, 2020, the House of Representatives just passed the "Paycheck Protection Program Flexibility Act," cosponsored by Representatives Dean Phillips (D-MN) and Chip Roy (R-TX), which makes several amendments to the CARES Act to make PPP loans more helpful to small businesses by increasing flexibility.  The changes include: Extending the program sunset to [...]

By |2020-05-29T17:16:39+00:00May 29th, 2020|Uncategorized|0 Comments

April 2020 Pending Home Sales

NAR released a summary of pending home sales data showing that April’s pending home sales pace dropped 21.8% last month and fell 33.8% from a year ago. This would be the lowest level since January 2001 when NAR began the series. Pending sales represent homes that have a signed contract to purchase on them but [...]

By |2020-05-29T16:36:14+00:00May 29th, 2020|Uncategorized|0 Comments

FEMA Flood Preparedness Resources

This document was produced by FEMA in collaboration with the National Association of REALTORS®.The following collection of materials includes resources, webpages, fact sheets, infographics, and publications available for use by real estate professionals and lenders. Professionals can use the materials to promote the financial protection flood insurance offers and explain various flood insurance requirements to [...]

By |2020-05-28T21:49:38+00:00May 28th, 2020|Uncategorized|0 Comments

Fewer People Receiving Unemployment Benefits; Nearly 4 Million Less Than the Previous Week

Nearly 21 million people received unemployment benefits in the week ending May 161; a decrease of 3.8 million from the previous week’s revised levels. That was actually the first time in 10 weeks that the number of people receiving unemployment benefits dropped. Although millions of people lost their jobs due to the growing spread of [...]

By |2020-05-28T19:35:10+00:00May 28th, 2020|Uncategorized|0 Comments

2020 C2EX Challenge Submission Form

Participation Category: This field is required. Small State/Territory Association (4,999 members or fewer) Medium State/Territory Association (5,000 — 14,999 members) Large State/Territory Association (15,000 — 29,999 members) Mega State/Territory Association (30,000 members or more) Association Name: This field is required. Association NRDS Number: This field is required. Address: This field is required. City: This field [...]

By |2020-05-28T14:46:12+00:00May 28th, 2020|Uncategorized|0 Comments

Pending Home Sales Slump 21.8% in April

“With nearly all states under stay-at-home orders in April, it is no surprise to see the markedly reduced activity in signing contracts for home purchases,” said Lawrence Yun, NAR’s chief economist.The latest pending home sales numbers reveal the greatest decline since NAR begin tracking such transactions in January 2001. However, Yun expects that April will [...]

By |2020-05-28T13:17:43+00:00May 28th, 2020|Uncategorized|0 Comments

Back-to-Normal Barometer and Buyer/Seller Survey Results

Slides: Back-to-Normal Barometer Survey Results (PDF: 1.8 MB)Slides: Meeting the Needs of Buyers and Sellers During and After the Pandemic Survey Results (PDF: 2.5 MB)NAR worked with two of the country’s leading experts in public opinion, Rich Thau, President of Engagious, and Jon Last, President of Sports & Leisure Research Group, to provide REALTORS® with [...]

By |2020-05-27T22:20:58+00:00May 27th, 2020|Uncategorized|0 Comments

Forbearance Options for Homeowners

Due to the coronavirus pandemic, the job market and the economy have changed drastically. We are seeing record highs of filings for unemployment as well as many families are trying to figure out how to manage the financial wellness of their households. Nadia Evangelou, a Senior Economist at NAR, just wrote a blog post on [...]

By |2020-05-27T14:34:46+00:00May 27th, 2020|Uncategorized|0 Comments