Real estate trade groups are uniting in support of the Department of Housing and Urban Development’s (HUD) proposed Affirmatively Furthering Fair Housing rule (AFFH).
The National Association of Realtors (NAR), the National Association of Real Estate Brokers (NAREB), the National Association of Hispanic Real Estate Professionals (NAHREP), the Asian Real Estate Association of America (AREAA), and the LGBTQ+ Real Estate Alliance (the Alliance) jointly issued a statement on Wednesday in support of the rule.
“NAR advocates tirelessly for policies that help close homeownership gaps and increase access to affordable homeownership for every American. Realtors are champions for diverse, inclusive communities where everyone can thrive,” Kenny Parcell, the 2023 NAR president, said in a statement. “By prioritizing robust community engagement, HUD can support communities as they find local solutions to local fair housing issues.”
The AFFH provides guidance and tools for cities and states that receive HUD funding to find local solutions to reverse segregated housings patterns. The regulation is designed to help implement the Fair Housing Act’s directive that HUD and funding recipients take action to overcome patterns of segregation and foster inclusive communities free from discrimination.
The rule also provides more robust community engagement, streamlines processes for funding recipients, provides greater transparent and places a new emphasis on expanding homeownership opportunities.
“The Affirmatively Furthering Fair Housing rule is a critical tool for addressing the segregated neighborhoods that continue to exist, despite the enactment of the Fair Housing Act 55 years ago,” Lydia Pope, the president of NAREB, said in a statement. “This rule can ensure that state and local jurisdictions that receive federal housing funds incorporate fair housing policies in their communities. It provides a much-needed government push to address segregated housing patterns and promote diverse communities. The federal government needs this leverage to pursue more equitable communities and help close the racial wealth gap.”
The new AFFH rule expands upon the AFFH rule HUD implemented in 2015, which the trade groups also supported.
