Government Shutdown and Real Estate: What Realtors Need to Know Now

The federal government has shut down, immediately causing the National Flood Insurance Program (NFIP) authority to issue new policies to lapse, which threatens an estimated 1,400 property transactions daily. Beyond the

NFIP, the shutdown could delay IRS income verification and FHA/VA loan processing, slowing or halting transactions nationwide and adding uncertainty to the housing market.

The National Association of REALTORS (NAR) is urgently pressing Congress to reauthorize NFIP and end the shutdown to protect the housing market, which accounts for nearly 20% of the U.S. economy.

Read the full document below for a complete understanding of the risks and NAR's advocacy efforts.