June’s National Homeownership Month is Back!
Did you know that the whole month of June is National Homeownership Month? This month is dedicated to showcasing Realtors® ongoing commitment to fostering a strong, sustainable, and inclusive community for all. This annual tradition underscores the significance of homeownership and emphasizes the benefits and opportunities to make owning a home more accessible to everyone.
Whether you are a first-time homebuyer or aspire to own a home in the future, the journey of finding the perfect house is a universal experience we can all relate to.
From its origins in the 1920s, when local Realtor® groups sought to promote the concept of homeownership, to the present day in 2024, where President Biden has introduced a $10,000 tax credit for first-time homebuyers and those looking to sell their starter homes, National Homeownership Month has evolved to enhance affordability and generate positive momentum in assisting individuals in purchasing a home.
The National Association of Realtors® has helped to make homeownership more accessible starting with adding to the nation’s limited inventory. They are advocating on behalf of the tax law that not only promotes homeownership but helps to build stable communities and promote economic growth.
One example of the bipartisan tax bills and solutions is the Affordable Housing Credit Investment Act, which encourages in creation and preserving affordable housing. Not only is this an important solution to making a difference for homeownership for all, but NAR also advocates to ensure there is equal access to professional representation as well as support with fair housing through many more bills and solutions as well. Some examples NAR includes are: Ensuring veterans have access to professional representation, can fairly compete in the market, allowing these buyers to compensate those who represent them directly, preserving like-kind exchanges, preserving the 199A qualified business income deduction, and supporting the 3by30 initiative to add three million net Black homeowners by 2030 alongside supporting Black Homeownership Collaboration. Lastly, the Fair and Equal Housing Act supports the Direct Seller and Real Estate Agent Harmonization ensuring real estate agents can maintain their independent contractor status.
To delve deeper into the contributions and efforts in maximizing housing opportunities, here is a webinar on June 20th to showcase insights from leaders in the National Association of Realtors®(NAR), Professional Development, and Government Affairs. It aims to facilitate brainstorming sessions on utilizing grants to bolster advocacy initiatives and advance equal housing opportunities for all. Additionally, you can gain knowledge on Housing Opportunity Grants to support affordable housing initiatives or Fair Housing Grants to offer education and activities that align with the mission of promoting fair housing practices year-round by using these resources.
By BeachesMLS Staff
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