June is National Homeownership Month, and it is a good time to talk honestly about what it takes to help more people become homeowners. For many families, the biggest barrier is not desire, it is supply. Limited inventory keeps prices high and choices tight. The National Association of Realtors has outlined several federal policy solutions aimed at increasing housing supply, supporting first time buyers, strengthening communities and expanding fair access to homeownership. We are sharing this information to highlight the work being done to address housing challenges at the national level.

Making homeownership accessible to more people starts with adding to the nation’s severely limited inventory.

The U.S. is facing an underbuilding gap of 5.5 million units, equaling a $4.4 trillion underinvestment in housing.

America’s tax law can and must do more to promote homeownership, build stable communities and boost economic growth.

NAR is advocating for these bills and solutions:
- The More Homes on the Market Act (H.R. 1340) to decrease the equity penalty and incentivize more long-term owners to sell their homes.
- The Neighborhood Homes Investment Act (H.R. 2854), which would attract private investment to build and rehabilitate owner-occupied homes.
- The Affordable Housing Credit Improvement Act (S. 1515/H.R. 2725), which would encourage creating and preserving affordable housing.
- The Housing Supply Framework Act (H.R.2840/ S.1299) to create a national strategy for boosting housing production and affordability by reducing barriers to new housing development.
- The Revitalizing Downtowns and Main Streets Act (H.R. 2410) to convert underused commercial properties into residential and mixed-use housing.
- The Uplifting First-Time Homebuyers Act (H.R. 3526) to increase the amount that can be withdrawn penalty-free from IRAs for a down payment on a first home.
- Support small business by preserving the 199A qualified business income deduction and keeping taxes on business income lower for independent contractors and pass-through business owners.
- Support commercial real estate investment by preserving 1031 like-kind exchanges.
- Incentivize homeownership by increasing the cap on the state and local tax (SALT) deduction and eliminating the marriage penalty. 

NAR is also advocating to ensure equal access to professional representation and support fair housing. Priorities include:

- The Fair and Equal Housing Act to add sexual orientation and gender identity as protected classes under the Fair Housing Act.
- Ensuring veterans maintain access to professional representation and can compete in the market by allowing VA buyers to compensate their professional representative directly.
- Serving as a founding member of the Black Homeownership Collaborative and supporting the 3by30 initiative, with the goal of adding three million net new Black homeowners by 2030. 

Homeownership remains one of the strongest tools for long term stability and opportunity, but it takes smart policy and real solutions to keep it within reach. Expanding housing supply, supporting responsible investment and protecting fair housing are all part of building stronger communities. That is why Greater Chattanooga Realtors leadership and staff will be in Washington, DC next week to advocate for homeownership and practical solutions that help more families buy and keep a home. If you want to learn more about these efforts or what they mean for buyers and sellers in our area, connect with a local realtor and explore the resources available through the National Association of Realtors. #That'sWhoWeR