Kevin Sears Testifies Before Congress on the National Housing Crisis

December 3, 2025 – Lamacchia Realty is proud to recognize Kevin Sears, Immediate Past President of the National Association of REALTORS® and Associate Broker of the Lamacchia Realty’s Springfield office, for testifying today before the U.S. House Financial Services Committee on one of the most urgent issues facing Americans today: the national housing affordability and supply crisis.

Sears, who has served the real estate community for more than 30 years, spoke on behalf of 1.5 million REALTORS® across the country, bringing both national leadership and local Massachusetts perspective to Capitol Hill. In his testimony, Sears emphasized what REALTORS® see every single day: families who have worked hard, saved consistently, and done everything right are still struggling to find a home they can afford. 

He highlighted alarming national trends:

  • Housing inventory has been at historic lows, with fewer homes available today than in 1995, despite millions more Americans.
  • The U.S. is short nearly five million homes, following 14 years of underbuilding after the Great Recession.
  • First-time homebuyers now make up only 21% of the market, the lowest share on record.
  • The median first-time buyer is now 40 years old, a full decade older than previous generations.
  • The wealth gap is widening: the median homeowner holds $430,000 in net worth, while the median renter holds $10,000.
“These realities are locking entire generations out of homeownership. This is not a red or blue issue—it’s a red, white, and blue issue.”
Kevin Sears Headshot
Kevin Sears Former NAR President, Associate Broker of Lamacchia Realty Springfield

Additionally, he outlined several factors contributing to the inventory shortage:

  • Outdated capital gains tax limits that discourage homeowners from selling
  • High interest rates that trap millions in low-rate mortgages they can’t afford to give us
  • Slow, restrictive zoning and permitting processes that prevent builders from adding needed supply
  • Federal red tape and high construction financing costs that stall development

He urged Congress to pursue bipartisan solutions that can unlock inventory, expand new construction, and make homeownership more attainable. He commended the Committee for advocating bipartisan legislation including:

  • More Homes on the Market Act
  • Housing Supply Frameworks Act
  • Home Reform Act

These acts aim to modernize tax policy, reduce regulatory barriers, and expand financing for affordable and innovative housing options. 

“Kevin has been an incredible voice for REALTORS® and for consumers. His ability to clearly articulate the challenges facing our industry, and the solutions that can make a meaningful difference, is invaluable. We are proud to have him representing both our company and our profession on the national stage."
Anthony Lamacchia
Anthony Lamacchia Founder, CEO & Broker

Lamacchia Realty is honored to have had Kevin Sears as part of our company. His testimony reflects the experience, advocacy, and leadership he brings not only to his national role but to every buyer and seller he serves in Massachusetts. Watch the full video below.

Kevin also discussed the hearing on Capital Hill with Fox News. Click here or watch the full video below.