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Celebrating 2024 National Homeownership Month

In June of each year, EMTAR joins Tennessee REALTORS® and the National Association of REALTORS® (NAR) to promote the benefits of homeownership and recommit to creating opportunities for future homeowners as we mark National Homeownership Month.

In 2024, as this important month unfolds, many of us are engaged in the busy summer real estate season. As we work closely with sellers and buyers across Wilson, Smith, and Dekalb counties, it is good to reflect on why we believe in the power of homeownership and in helping these folks in our communities to achieve the American Dream.

The month is marked by a number of spotlights and opportunities. NAR offers a wide array of insights that zoom in on the importance of homeownership. NAR has a main webpage here with tons of insights and resources to help members become more aware of Homeownership Month.

To begin with, this year’s presidential proclamation begins:

Owning a home is about more than putting a roof over your family’s head — it is part of the American Dream. For generations, it has been a pathway to the middle class, an opportunity to build community and to pass down wealth to your children. But too many Americans today still struggle to buy a home. This National Homeownership Month, we recommit to giving every American a fair shot at that dream. . . .

As another example, NAR’s First-Time Buyer video episodes are available to watch. Purchasing a first home isn’t easy, but the determined buyers featured in these NAR programs are up for the challenge. Watch—and get inspired—as real estate rookies discover creative pathways to homeownership by following the lead of an agent who is a REALTOR®.

In the realm of advocacy, America’s tax law can and must do more to promote homeownership, build stable communities, and boost economic growth. NAR is advocating for the following bipartisan tax bills and solutions:

  • The More Homes on the Market Act (H.R. 1321), which would decrease the equity penalty and incentivize more long-term owners to sell their homes.
  • The Neighborhood Homes Investment Act (S. 657/H.R. 3940), which would attract private investment to build and rehabilitate owner-occupied homes.
  • The Affordable Housing Credit Improvement Act (S. 1557/H.R. 3238), which would encourage creating and preserving affordable housing.
  • 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 $10,000 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:

  • Ensuring veterans maintain access to professional representation and can compete in the market by allowing VA buyers to compensate their professional representative directly.
  • Supporting the Direct Seller and Real Estate Agent Harmonization Act (H.R. 5419) to ensure real estate agents maintain their independent contractor status under the Fair Labor Standards Act (FLSA).
  • Supporting the Fair and Equal Housing Act (H.R. 4439) to add sexual orientation and gender identity as protected classes under the Fair Housing Act.
  • 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.

Read more here about NAR’s priority issues.

Here in Tennessee, we are also keeping a close eye on state and local legislative and regulatory activities to ensure that our government leaders consider the high value of homeownership as they make decisions and cast votes. Learn more about how EMTAR is part of those efforts here.

These are just the beginning, of course. Many other homeownership materials and resources are only a click or two away. (You’ll find more of them here and here.)

In closing, let us say a hearty Happy National Homeownership Month! We are grateful that for our REALTOR® members, every month is really Homeownership Month, because you are purposeful and passionate about helping buyers and sellers navigate their closings all year long.

So as we celebrate and mark this extra-special month, we also celebrate you!

About EMTAR: Chartered in 1969, our Association’s 1,300+ REALTORS® are a proud part of the 36,000+ members of Tennessee REALTORS® and of the 1.5 million+ members of NAR, all working to serve the public and protect the rights of America’s property owners. EMTAR members are known not only for their unmatched real estate excellence and high ethical standards, but also for being generous, hospitable, others-focused, loyal, hardworking, and eager to help wherever and whenever help is needed.

home ownership, NAR, realtor value