Federal Issues
NAR Cautions Court to Avoid Disruption of Housing and Real Estate Markets
June 12, 2023
In another case before the Supreme Court, the National Association of REALTORS® (NAR), alongside the Mortgage Bankers Association (MBA) and the National Association of Homebuilders (NAHB) submitted an amicus brief on Monday, May 15, to the Supreme Court in the case of the Consumer Financial Services Association of America v. Consumer Financial Protection Bureau (CFPB). This case is examining the constitutionality of the funding structure of the CFPB. While the coalition took no position on the constitutional question before the Court, they asked the Court not to make a broad decision that could cause major disruption of the nation’s housing and real estate markets in order to protect consumers and the broader economy.
Should the Court issue a broad sweeping decision that calls into question those regulations, uncertainty and chaos could ensue with a lack of clarity around what rules govern mortgage and purchase transactions, in addition to the potential liability for industry professionals. The Court is expected to take up this case in October of this year.
About the ARA Market Brief
The Atlanta REALTORS® (ARA Market Brief is compiled by First Multiple Listing Service (FMLS) and provides the only regionally focused synopsis of monthly sales and home prices for single-family residential properties. The Market Brief covers the following 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding, and Rockdale.
The data in this report was compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Association at 404.250.0051.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Atlanta REALTORS® Association
The Atlanta REALTORS® Association (ARA) has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. With over 14,000 members, Atlanta is the largest association in Georgia and is considered to be one of the strongest and most successful REALTOR® organizations in the nation. ARA serves as a central source of information for its members, mainly focusing on real estate education, the promotion of professionalism in the industry, and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.
About First Multiple Listing Service
First Multiple Listing Service (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded in 1957 by a group of Brokers who wanted to share their listings and connect buyers and sellers. Today FMLS is the largest MLS in Georgia & the 4th largest MLS in the United States, serving nearly 54,000 real estate Agents & Brokers. For additional information or to start a discussion about how to partner with FMLS please contact join@fmls.com.