Inside this issue
  NAR Commentary: How to Increase African-American Homeownership  

NAR's Chief Economist Lawrence Yun discusses how to close gap in homeownership rates between whites, African-Americans.

The interest in homebuying is strong as reflected in the surge in mortgage applications to buy a home. However, there is not enough supply to meet demand. Though housing starts in May recovered slightly from the prior month, this marks two consecutive months of depressed levels - down by more than 20% from one year ago - due to the disruption from the economic lockdown. Significant growth in new home construction, however, is required in the upcoming months and possibly even stretching into the next three years. 

Before the pandemic, America faced a housing shortage of around 5 to 6 million homes due to multiple years of underproduction of new homes. Now, in the middle of 2020, the housing shortage has intensified. Consequently, home prices will be pushed higher thereby making ownership opportunities for first-time buyers more difficult. More homes need to be built. Click here to read the full commentary.



  SBA's EIDL program reopened to eligible businesses, non-profits  
  The U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal last week to all eligible applicants experiencing economic impacts due to COVID-19. 
With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants. EIDL assistance can be used to cover payroll and inventory, pay debt or fund other expenses. Additionally, the EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties, and these emergency grants do not have to be repaid.

For information on SBA's disaster relief programs go to:
Additionally, the following PPP information was updated on SBA's website last weekend: Summary of PPP lending as of 6/20/20


  It's a census year and that's important for REALTORS  

The decennial census is a population count that is mandated by the U.S. Constitution to take place every 10 years in all 50 states, U.S. territories, and the District of Columbia. This year the census will take place beginning in mid-March. The U.S. Census Bureau, a section of the U.S. Department of Commerce, is responsible for oversight and administration of the census. The population count is conducted using a census survey that asks every household detailed information so that the federal government and state governments can better learn about communities throughout the country. The 2020 census can be completed by phone at 1-844-330-2020, by mail, or online at from mid-March until October 31, 2020.

The census is important for all REALTORS® because completing the 2020 census means more resources for businesses and communities across the country. The data is also used for redistricting purposes and for reapportionment, to ensure fair representation in Congress. Last fall, NAR launched its Census Awareness Campaign to ensure that all 1.4 million REALTOR® members are informed about the upcoming census and to encourage all members to complete the 2020 census. Additionally, NAR has published an online Census Guide to help members, stakeholders, and state and local associations to learn more about the impact of the census.

For more additional information about the census, please visit



  NVR summer BOD meeting set for June 25.  
Nevada REALTORS® will host its first 2020 Board of Directors meeting later this month. The upcoming event is scheduled to begin Thursday, June 25 at 9 a.m. The meeting will be held on the Zoom platform rather than the traditional in-person format. 

The June 25 meeting is open to all NVR members. They can watch the meeting on Zoom by using this link when the meeting begins later this month. The password is NVRBOD.


  Webinar to address REALTOR safety  
Tuesday's online event will feature staunch NAR safety advocate Carl Carter
In this free REALTOR® Safety webinar from the National Association of REALTORS®, Carl Carter, Jr., REALTOR® and Founder of the Beverly Carter Foundation, shares the importance of following safety protocols and best practices while working in the industry. Join us to hear key tips all real estate professionals should implement into their business to reduce the risk of safety incidents in the industry. Click here to learn more and register.