REALTOR Call to Action

The United States Senate is missing an opportunity to improve housing markets across the country, and we need your help to tell them to get to work and make homeownership a priority!

Take action now to urge your Senators to pass H.R. 3700, the “Housing Opportunity Through Modernization Act of 2016,” a bill that makes needed reforms to the Federal Housing Administration (FHA) condominium loan program, federal-assisted housing programs and Rural Housing Service loan programs.

This legislation provides significant benefits to taxpayers, homebuyers and the real estate market by:
1) Removing a burdensome and expensive FHA Condo approval process
2) Reducing FHA restrictions on the number of condos available to homebuyers
3) Permanently streamlining Rural Housing Service loan processing

Bottom Line: This bill makes buying a condo A LOT easier by expanding opportunities for first-time homebuyers and streamlining rural housing programs for low-income rental residents. Condominiums are among the most affordable homeownership options for first-time homebuyers, as well as lower income borrowers, but barriers to safe, affordable mortgage credit for condos still exist. H.R. 3700 takes a number of steps to address those concerns.
The House of Representatives passed this bill unanimously with a bipartisan vote of 427-0 and now we need the Senate to act!

Even if your business model is not based on Condominium or Rural Housing Service transactions, all REALTORS need to band together on this Call for Action. Although it may not affect you directly, the next one could very well be of critical importance to your business. Please support your REALTOR family by responding to this important Call for Action!
4 easy ways that Realtors can follow important issues that affect their business and respond to Calls for Action
1. Email:  NAR sent you an email.  It takes just 2 clicks to respond.
2. Web: If you didn’t get the email, you can respond at
3. There’s an APP for that: The REALTOR® Action Center mobile app is now available for download for the iPhone and DROID. Simply search for NAR Action Center in their respective app markets.  
4. Text: To stay informed about upcoming calls for action alerts via text message, sign up for the REALTOR®Party Mobile alerts program below or text the word REALTOR to 30644

Number of Available Homes Dwindling in Busy Market

DALLAS – In an ever-tightening housing market, it’s the average homebuyer that’s really feeling the pinch. 

“Inventory of mid-priced homes is extremely low,” said Russell Berry, president of the MetroTex Association of Realtors. “We’re looking at mere weeks of inventory, rather than a few months’ worth that would be available in a more balanced market. This situation is great for sellers because there is a lot of demand, but buyers will probably have to be a little patient to get into a home.”

The biggest market segment in North Texas is for homes priced between $100,000 and $300,000. That price bracket has about 1.1 months of inventory. There is much more availability in higher priced homes, with nearly four months of inventory for homes priced above $300,000.  All of these inventory numbers do indicate that North Texas is still a strong sellers’ market; however the higher price points are seeing a very welcome, if slight, increase in available homes.

“Properties are coming to market at a brisk pace,” continued Berry. “They are leaving the market just as quickly with the number of days on market down 12% over last year.”
According to the monthly MLS report released by the MetroTex Association of REALTORS today, prices are still on the rise, and sales dollar volume is rising quickly. Highlights of the report include:
•    There were 9,978 sales of single family homes in Dallas-Fort Worth in May, a 10% increase over May 2015.
•    The average price per square foot for single family homes in the area is $123, a 7% increase.
•    The average sales price in DFW in February was $289,377, a 7% increase over last year (and an all time high). 
•    There are 10,730 homes under contract and waiting to close. 
•    Houses are selling in an average of 38 days.
•    Most homes sell for 98.4% of list price when sold through a MetroTex Realtor.
•    There is approximately 2.3 months inventory in the area. Less than 3 months inventory is considered a strong seller’s market. 

MetroTex represents more than 16,000 members involved in all aspects of the real estate industry. MetroTex is the largest REALTOR® member association in North Texas representing the entire region. Established in 1917, MetroTex is an advocate for the real estate industry and private property rights. For more information, visit us online at