Inside this issue
  NVR members tabbed as leaders for NAR committees  
Linda Rheinberger

Nevada REALTORS® got good news in recent weeks when NAR released its committee chair and vice-chair appointments for 2023. Four Nevada REALTORS® were given the honor. Las Vegas REALTOR® Linda Rheinberger, who served as NVR President in 2010 and as the Region XI RVP in 2015, was selected as chairwoman for the Meeting and Conference Committee. The 2023 NAR annual conference is scheduled for Las Vegas in the fall of 2023.

Additionally, Incline Village REALTOR® Trevor Smith (2022 NVR Vice President) was tabbed as 2023 vice chair for the Resort and Second Home Real Estate Committee. Brandon Roberts of Las Vegas was given the nod as 2023 vice chair for the Idea Exchange Council for Brokers. On the commercial real estate front, Las Vegas' Angelina Scarcelli was named 2023 vice chair for the Property Management Forum.

"Our association is very proud of this news," Nevada REALTORS® CEO Teresa McKee said. "To see Nevada honored with this representation means our great state has hard-working, knowledgeable people invested in the business of promoting the REALTOR® cause and that it is being recognized at the national level."

Only Chairs and Vice Chairs were recently announced. Committee member announcements will be made in October.



  Foreign Investment in U.S. Existing-Home Sales Climbed 8.5% to $59 Billion, Ending Three-Year Slide  

Foreign buyers purchased $59 billion worth of U.S. existing homes from April 2021 through March 2022, an 8.5% increase from the previous 12-month period and stopping a three-year skid in foreign investment in U.S. residential real estate, according to a new report from the National Association of REALTORS®. Foreign buyers purchased 98,600 properties, down 7.9% from the prior year and the fewest number of homes bought since 2009, when NAR began tracking this data. Overall in the U.S., existing-home sales totaled 6.12 million in 2021 - the highest annual level since 2006.

NAR's 2022 Profile of International Transactions in U.S. Residential Real Estate surveyed members about transactions with international clients who purchased and sold U.S. residential property from April 2021 through March 2022. Foreign buyers who resided in the U.S. as recent immigrants or who were holding visas that allowed them to live in the U.S. purchased $34.1 billion worth of U.S. existing homes, a 5.2% increase from the prior year and representing 58% of the dollar volume of purchases. Foreign buyers who lived abroad purchased $24.9 billion worth of existing homes, up 13.2% from the 12 months prior and accounting for 42% of the dollar volume. International buyers accounted for 2.6% of the $2.3 trillion in existing-home sales during that time period. Click here for more information.



  Nominations open for 2022 NVR awards  

Nevada REALTORS® is accepting nominations for 2022 REALTOR® of the Year Award (ROY), Distinguished REALTOR® Award (NDRA), Inspiring New Leader of Tomorrow Award (INLTA), and REALTOR® Active in Politics award (RAP). The deadline for the NDRA and RAP awards is Friday, Sept. 30. The ROY award deadline is August 15. Nominate a deserving REALTOR® today! You can view the nomination application for awards by clicking here.  Then, please email Lilli Walker at NVR with your nominations.



  Competition in Real Estate  

REALTORS® are entrepreneurs-most often small business owners-who exemplify the spirit of this country. As expert, local brokers, REALTORS® help consumers navigate what is for many the most complex and important transaction they'll ever do. Every REALTOR® is bound by a strict code of ethics based on professionalism, consumer protection and the golden rule. REALTORS® are also engaged neighbors committed to building and enhancing the communities they serve and fighting for fair housing. Checkout NAR's new website: Competition.Realtor