T
he National Association of REALTORS® (NAR) backs the Housing for the 21st Century Act, a bipartisan effort to modernize obsolete housing programs, ease regulatory constraints, and grant local communities greater flexibility. During a recent markup session, the House Financial Services Committee advanced the act, which passed with a 50‑1 vote. The committee’s leadership—Chairman French Hill (R‑Ark.), Ranking Member Maxine Waters (D‑Calif.), Subcommittee Chair Mike Flood (R‑Neb.), and Ranking Member Emanuel Cleaver (D‑Mo.)—highlighted the urgency of addressing nationwide housing shortages.
The act tackles the persistent lack of inventory, escalating construction costs, and bureaucratic delays that stifle new development. By eliminating redundant or outdated federal requirements, the legislation seeks to shorten construction timelines and lower expenses while preserving consumer protections and fair‑housing standards. Its provisions echo those of the ROAD to Housing Act, which recently cleared the Senate, and aim to align federal policy with today’s market realities.
NAR’s long‑standing priorities—expanding supply, safeguarding property rights, and enhancing affordability—are reflected in the act’s focus on modernizing federal programs, reducing permitting barriers, encouraging innovative building methods such as modular and manufactured homes, and broadening financing options. “This legislation embodies many reforms NAR has championed to confront America’s housing crisis,” said Shannon McGahn, NAR’s executive vice president and chief advocacy officer. “By updating federal policy to match current construction and financing practices, the act adopts a market‑driven approach that will boost supply and improve affordability across the country.” McGahn thanked the committee leaders for their leadership and urged swift passage.
NAR will continue collaborating with lawmakers to ensure the act delivers practical solutions that enable communities to build more homes and expand access to homeownership in the 21st century.
