The Washington Report

On May 30, 2025, NAR released an updated State Flood Disclosure Tracker to reflect recent changes in state laws requiring disclosure of property conditions, including prior flood damage. Please find below a linked summary of notable state disclosure law updates.

This update responds to a FEMA proposal that would require states to adopt a federal flood disclosure form as a condition for participating in the National Flood Insurance Program (NFIP). However, NAR’s research, conducted in partnership with the Legal Research Center, confirms that all 50 states and D.C. already require disclosure of known material property conditions—many of which include more detailed, flood-specific disclosures developed by state and local authorities.

NAR opposes FEMA’s one-size-fits-all approach, citing unnecessary duplication, increased administrative burden, and limited consumer benefit. Instead, NAR supports broader NFIP reforms, including the Flood History Information Act of 2024, which would require FEMA to share claims and disaster aid data directly with property buyers and renters.

For more information, visit NAR's Flood Insurance page.

Read the Summary of Notable State Disclosure Lawpdf Updates.

Read the Summary of Notable State Disclosure Law Updates

On May 23, 2025, NAR submitted comments to the U.S. Department of Justice (DOJ) Anticompetitive Regulations Task Force urging the review and recission of overly burdensome federal and state regulations that hinder competition by impeding access to homeownership and frustrating housing growth and affordability. NAR’s recommendations span multiple federal agencies—including HUD, USDA, VA, FEMA/NFIP, and EPA—and emphasize the need for a more coordinated, pro-competitive regulatory environment that supports housing affordability and expands supply.

According to NAR research, this country lacks 4.7 million homes. Addressing housing affordability starts with adding to the nation’s severely limited inventory. Eliminating or streamlining burdensome, anticompetitive regulations in the housing ecosystem—including those at the local level with zoning and permitting—is key to supporting access to housing and homeownership.

NAR believes the recommendations provided to the Task Force can lead to informed, impactful changes in the housing industry that will be durable and reduce industry uncertainty. As an engaged partner, NAR stands ready to assist the Task Force with these efforts.

On May 7, 2025, Sen. Kevin Cramer introduced S. 1635, the Appraisal Industry Improvement Act, cosponsored by Sen. Ruben Gallego. This bill proposes to:

1.  Add appraiser trainees to the National Registry,

2. Allow licensed appraisers to complete FHA appraisals, in addition to certified residential and certified general,

3. Allow the Appraisal Subcommittee (ASC) the option to lower fees for AMCs

4. Add members from the VA and USDA to the ASC board, and

5. Give broader scope to grants for workforce and training allowed by the ASC.

The bill has been referred to the Committee on Banking, Housing, and Urban Affairs.