Inside this issue
  It's Not Soup Yet! - Episode 13  


Nevada Realtors 2023 President Tom Blanchard, Past President Chris Bishop (2020) and 2023 Legislative Chair Keith Lynam discuss the Silver State real estate industry and policy impacts as the Nevada Legislature continues its 2023 session. 

*A Reminder that Bills and Bill Draft Requests are CONSTANTLY CHANGING during Session. The information contained in this video MAY NOT BE CURRENT for more than a couple of days. Please view updated “It’s Not Soup Yet” videos and read the REALTOR Advocate which goes out to NVR members via email every Friday during session for the latest information.

Watch the latest weekly video here.



  Just a week left to apply for '24 NAR committees  

REALTOR® members can apply to a 2024 Committee and help shape the direction of the National Association of REALTORS®. Now through May 15, members may submit their applications in order to be considered for a committee leadership or member position. 

NVR members are encouraged to submit multiple applications (up to five) in order to be considered for all committees they have an interest in serving on. However, members will only receive one appointment, per current policy. Applications are compiled for review by NAR Officers during the NAR committee selection process.

To the extent possible, the composition of committees shall be representative of the general membership. While broad-based representation is desirable, this should not be construed as limiting the president from appointing the most knowledgeable and competent individuals available to serve on committees. Click here to apply for an NAR committee.



  Majority of agents, brokers find value in promoting energy efficiency  

Nearly half of REALTORS® find that consumers are interested in sustainability


A majority (63%) of agents and brokers said promoting energy efficiency in listings is very or somewhat valuable, according to a new report from the National Association of Realtors®. The 2023 REALTORS® and Sustainability Report – Residential examines sustainability issues facing the real estate industry.

Half of Realtors® said they were directly involved with a property with green features – on the buyer or seller side – in the past 12 months. Thirty-two percent of agents and brokers reported that their multiple listing service had green data fields, 37% of which used those fields to promote green features, 24% to promote energy information and 14% to promote green certifications. Click here to read more on the report.



  Mortgage rates just lurched in shocking direction: What does it mean for RE?  

Mortgage rates slipped lower this week, even as the Federal Reserve announced it was implementing an additional interest rate hike to curb ongoing inflation. Interest rates for a 30-year fixed mortgage averaged 6.39% in the week ending May 4, Freddie Mac announced on Thursday. That’s only fractionally lower than 6.43% last week, but many expect mortgage rates to fall even lower later this year. 

But even with the most recent tick down, rates are still high enough to make homeownership too expensive for many Americans. What’s more, many economists increasingly believe the central bank’s unrelenting rate hikes—10 since March 2022—have been detrimental to the economy, especially in the wake of the most recent bank failure of First Republic. Click here to read more of the article.