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2025 General Membership Meeting Book

2025 General Membership Meeting Book

Welcome to the General Membership Meeting April 23rd, 2025 10:30AM		1
Good Morning Everyone!		2
Honoring our Veterans & Pledge of Allegiance		3
Honoring Past Presidents Thank you for your leadership! A Moment of Silence Remembering Members who have passed		4
Celebrating Our REALTOR® Emeritus Members Emeritus Members Present Please Stand		5
CAR Membership Snapshot		6
Ocean City, Maryland 2025 Changes to Code Impacting all Rental Units Plus Specific Occupancy/Rental Restrictions in R1/MH Zoning Districts		7
2025 First Quarter Education Highlights		8
1,068 ACTIVE REALTOR® Members 362 Current Active FOREWARN Users 457 Members have Transactions in 2025 100% Participation Encouraged Questions? Contact Bonnie at CAR		9
10
State Appointment to MREC Announcement Congratulations, Joe Wilson!		11
Maryland State Legislative Session Recap & & Local Government Updates		12
Maryland State Legislative Session Recap		13
Maryland State Legislative Session Recap		14
Maryland State Legislative Session Key Bills – Supported by Maryland REALTORS		15
Maryland State Legislative Session Key Bills – Opposed by Maryland REALTORS (All Failed to Pass)		16
Legislative Committee Highlights		17
Wicomico County Legislative Issues		18
Somerset County Legislative Issues		19
Worcester County Legislative Issues		20
Worcester County Legislative Issues Ocean City		21
Maryland State Legislative Session Recap		22
Worcester County Ocean City Update		23
RPAC: Your Voice, Your Advocacy		24
Three Way Agreement & Associations		25
Slide Number 26		26
Thank you all for attending this year’s REALTOR® Fair. I’m truly honored to serve in this Association. When I moved to the Eastern Shore, I didn’t know a single person within 100 miles. But I’ve been welcomed with open arms, and for that, I’m incredibly grateful. To the Advocacy Committee – thank you for your vigilance. To Cameron Drew and Rob Payne, our Advocacy and RPAC Chairs – thank you. To Bonnie, Kim, and Tiffany – thank you for everything you do behind the scenes. To our Board of Directors and our President Lauren Bunting – we are fortunate to have strong leadership. And to Bernie – thank you for believing in me and giving me this opportunity. I’ll be at CAR Booth 22, with our Maryland partners…. Maryland REALTORS ®, Bright MLS, and MD Dept of Housing and Community Development just around the corner.		27
Please Welcome Dr. Lisa Sturtevant, PhD — Chief Economist at Bright MLS.		28
Housing Market Update		29
Local Housing Market		30
Sales activity has been slow in the Maryland counties		31
New pending sales are up seasonally though still lower than a year ago Wide swings in pending sales during the pandemic		32
Despite slower sales, home prices continue to rise Home prices rising faster in the region than in other parts of the Bright area		33
Prices for waterfront condos up fastest Single-family price growth in Sussex County has stalled		34
Inventory has been rising but is still below pre-pandemic levels Condo supply has been increasing faster than single-family supply		35
Homes are taking longer to sell across the Del/Mar Coastal region However, the pace of the market is still faster than historically		36
There was a surge of listing activity in March		37
Weekly New Listings		38
The Washington D.C. area has been hardest hit by Fed govt cuts		39
U.S. labor market is still resilient through March		40
People are less likely to quit their jobs There has been a small increase in private-sector layoffs this year		41
Mortgage rates tend to track with the 10-year Treasury yield Bond yields have been volatile in recent weeks in response to Trump administration policies		42
Mortgage rates have come down some from the recent peaks Federal Reserve rate cuts have not translated into lower mortgage rates		43
The Federal Reserve signaled no rate cut likely at May meeting Balancing keeping inflation low, while maintaining a healthy labor market		44
Inflation has come down from its peak but not at Fed’s 2% target Tariffs risk sending inflation back up		45
What to watch in 2025?		46
A spring housing market in the balance		47
Where can you get all of this information?		48
Slide Number 49		49
Bright MLS Service Area		50
What to watch in 2025?		51
Slide Number 52		52
What to watch in 2025?		53
What to watch in 2025?		54
Need more information? Contact us! research@brightmls.com		55
Market Data and Analysis from Bright Research and insights specifically designed to help brokers and agents be a resource to their clients, colleagues and communities: www.brightmls.com/research		56
📢 SPRING FLING FUNDRAISER & AUCTION		57
📢 Announcements Before We Head to the Fair: 📒 At check-in, you received a Passport Card/Agenda and a Fair Booklet in your bag. ✍️ Be sure to write your name on your passport and use the vendor map to visit each booth. 🖊️ Vendors will stamp your passport as you go – and once it's completed, turn it in for your chance to step into the Money Machine filled with $1,000 in cash and other great prizes, including Board Bucks! 💵 Collect all 12 Board Bucks to be entered into the Grand Prize Drawing to be announced at the end of the fair.		58
Slide Number 59		59

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