NAR Applauds Senate Advancement of Bipartisan 21st Century ROAD to Housing Act

Today, Shannon McGahn, executive vice president and chief advocacy officer of the National Association of Realtors®, issued the following statement after the Senate passed a bipartisan motion to proceed to the 21st Century ROAD to Housing Act package:

"Last night's 87-8 Senate vote is another major step forward for one of the most significant bipartisan housing packages Congress has considered in years.

"America's housing shortage and affordability challenges demand action. The cost of building a new home has increased dramatically, with regulatory costs alone adding more than $131,000 to the price of a new home today. This legislation helps reduce barriers to building, modernize housing programs, and creates more opportunities for homeownership.

"This momentum is the result of more than a year of sustained advocacy by Realtors® across the country. Our Federal Political Coordinators, state and local associations, and Advocacy Team have worked tirelessly to keep housing at the forefront of the national conversation and build bipartisan support for meaningful solutions.

"We commend the House, Senate, and Administration for their diligent efforts and constructive deliberation on this critical legislation. The strong support in both chambers reflects a growing consensus that America needs more homes, greater affordability, and more pathways to homeownership. We are encouraged by this progress and look forward to continuing our work with Congress and the Administration to help get this legislation to the President's desk."