On January 22, Congress extended the National Flood Insurance Program (NFIP) to February 8. This extension was attached to the Continuing Resolution to re-open the Federal government. This marks the fourth extension and first lapse of the NFIP since September 30, of last year. The National Association of REALTORS® (NAR) will continue working with Congress to prevent further lapses while the U.S. Senate works on its version of the 5-year reauthorization and reform measure.
“We are pleased that members of Congress were able to come together to extend short-term funding for the federal government and end the shutdown, which thankfully, will have only a minimal impact on real estate transactions,” said NAR President Elizabeth Mendenhall, in a statement released earlier this week when the government shutdown ended. “However, following this shutdown we strongly urge Congress to speed passage of legislation to reauthorize and reform the National Flood Insurance Program for a longer term and end the uncertainty of the current stopgap approach."
For more detailed information about the NFIP, visit
NAR’s page here, or view
FEMA’s latest guidance on the issue.