Northern Virginia Association of Realtors® Launches NOVA Housing Supply Framework to Expand Housing Options and Preserve the Region's Economic Competitiveness

FAIRFAX, Va., March 12, 2026 /PRNewswire/ -- The Northern Virginia Association of Realtors® (NVAR), in partnership with the Northern Virginia Chamber (NVC) and the Northern Virginia Building Industry Association (NVBIA), today announced the launch of the NOVA Housing Supply Framework, a bold, regionally unified, and locally adaptable strategy to increase housing supply, protect affordability, and preserve Northern Virginia's economic competitiveness.

The Framework represents an unprecedented level of collaboration among Realtors®, builders, and the business community, uniting behind a single, focused policy platform designed to support predictable, efficient housing production and expanded homeownership opportunities. By combining market insight, economic perspective, and implementation expertise, the Framework delivers practical, actionable recommendations for each jurisdiction across the region.

"Northern Virginia is an exceptional place to live, work, and raise a family," said NVAR CEO Ryan McLaughlin. "Yet today, rising home prices, low inventory, and lengthy development timelines are making homeownership increasingly difficult, especially for first-time homebuyers. The NOVA Housing Supply Framework is a critical step in addressing these challenges, bringing stakeholders together to advance policies that increase supply, improve affordability, and ensure our communities remain vibrant and accessible."

The new initiative comes at a pivotal moment. In 2025, the median home price in Northern Virginia reached $750,000, a 2.78% increase from $729,710 in 2024 and roughly 54% higher than a decade ago. These trends have contributed to delayed household formation, longer commutes, reduced economic mobility, and an increase in the age of first-time homebuyers, which now averages 40 years old.

"A strong, vibrant economy depends on a stable, growing housing market that allows employees to live near where they work. The NOVA Housing Supply Framework aligns business and community interests to ensure Northern Virginia remains an attractive place for both residents and employers," said Julie Coons, President and CEO of NVC.

The Framework emphasizes the importance of collaboration with the region's homebuilders, recognizing their essential role in increasing housing supply, creating diverse housing options, and addressing affordability challenges. Builders bring practical experience and on-the-ground knowledge of development timelines, costs, and market dynamics, making their input critical to shaping policies that are realistic and actionable.

"Builders play a critical role in addressing Northern Virginia's housing challenges," said NVBIA CEO Debbie Rosenstein. "By combining their expertise with insights from Realtors® and the business community, the NOVA Housing Supply Framework ensures that new housing development is both practical and responsive to the region's needs, helping families access homes and supporting long-term economic growth.

In the weeks ahead, NVAR and its partners will continue engaging local governments, community leaders, and stakeholders to implement the Framework's recommendations and ensure that Northern Virginia remains a great place to live, work, and invest.

"The NOVA Housing Supply Framework goes beyond a one-size-fits-all approach," said Josh Veverka, NVAR Vice President of Government Affairs. "It will present tailored, jurisdiction-specific policies for local governments, ensuring that strategies reflect the unique needs and priorities of each community. Our goal is to make homeownership attainable while supporting a thriving, competitive regional economy."

About NVAR
The Northern Virginia Association of Realtors® (NVAR) serves as the voice of real estate in the Greater Northern Virginia Region. NVAR is dedicated to enhancing Realtor® success by delivering exceptional value, driving innovation, and impacting the industry. Headquartered in Fairfax, Virginia, with a new Member Experience Center located in Loudoun County, NVAR supports its 13,000 members with essential resources, including industry education, advocacy, networking, and professional development opportunities. The Association is committed to promoting ethical practices and excellence in real estate. It advocates on behalf of homebuyers, sellers, renters, and commercial tenants who are directly affected by local, state, and federal policy decisions impacting affordability, property rights, and quality of life. NVAR strives to elevate the standards of the real estate industry and to contribute to the overall growth and prosperity of the Washington DC Metropolitan Area and beyond. nvar.com. 

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SOURCE Northern Virginia Association of Realtors® (NVAR)