Government Shutdown has Little Effect on Real Estate

By Jann Swanson

Posted To: MND NewsWire

As the partial government shutdown continues the National Association of Realtors® contacted a sample of its members to see if the real estate market is as yet feeling any impact. At present the Department of Housing and Urban Development (HUD) and the Department of Agriculture are essentially closed, and the Internal Revenue Service is operating at a 15 percent staffing level. The Veterans Administration and the Federal Housing Finance Agency (FHFA) say they are operating as usual NAR’s online survey of its members had 2,211 usable responses. Seventy-five percent reported no impact to their contract signings or closings. However, 11 percent did report problems affecting current clients and 11 percent affecting potential ones. Those respondents were asked for further details and could give…(read more)

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