NAA Five, for the Week Ending October 23rd, 2026

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NAAHQ // Oct. 23, 2026
NAA
 
NAA FIVE
A weekly digest of key rental housing news and takeaways
prepared exclusively for NAA’s leadership
 
The Big Picture: Housing sales and starts are decreasing. Mortgage rates continue to hover above 7%. New stories are analyzing how data centers could affect the housing market.  
This week’s top stories
What We're Advocating

Treasury Rule: This morning, the U.S. Department of the Treasury published the first phase of its proposal to implement the 21st Century ROAD to Housing Act’s large institutional investor prohibition on single-family home purchases. The agency is taking a phased approach with the rulemaking and will accept public comments for 30 days. Read more.

Election 2026: With less than two weeks until Election Day, housing affordability once again remains a core focus of this year's midterm election. NAA has launched a live updates page to track the latest trends we're monitoring and outcomes of the 2026 election, including more than 10 state and local ballot initiative. Track the latest. 

Deeper Dive: Track the latest in housing politics with NAA’s Apartment Advocate. 

What We're Saying

Tracking New Construction: As pressure on builders continues to increase, NAA's VP of George Ratiu says, "Home builders find themselves between a rock and a hard place, squeezed by tariffs on imports pushing cost of materials higher, immigration enforcement curbing labor availability and surging interest rates locking buyers out of the market." Read more with NAA’s Economic Indicators.

What We're Doing

Advocate of the Year: NAA announced John Modlin, CEO of Legacy Apartment Staffing, as the 2026 Advocacy365 Malcolm N. Bennett Advocate of the Year award winner. A respected and trusted advocate at the state, local and national levels, Modlin has made a significant difference from both the perspective of a property management professional and now a supplier partner -- including helping three industry priorities become law. Learn more. 

What We're Hearing

Housing: “Fast-rising mortgage rates in September took a harsh toll on the housing market, according to new monthly data released today. Pending home sales, a measure of signed contracts on existing homes, dropped 7.3% from August and were down 11.3% year-over-year, according to the National Association of Realtors." (CNBC)