Through its Housing Opportunity Fund grants program, the National Association of Realtors (NAR) recently announced the disbursement of $50,950 to 16 local and state Realtor associations, in an effort to promote and expand local affordable housing opportunities in communities across the nation.

Established in 2006, NAR’s Housing Opportunity Fund supports a variety of programs to increase local affordable housing opportunities, and since the program’s inception, more than 100 grants totaling near $400,000 have been awarded. In 2009, the Housing Opportunity Fund awarded $100,000 to support 32 housing opportunity programs.

“Despite the recent drop in home prices there is still a lack of decent, affordable housing in many of our cities and towns,” said Vicki Cox Golder, NAR president and owner of Vicki L. Cox & Associates in Tucson, Arizona.

“Realtors build communities and understand how a shortage of affordable housing can affect the local area. NAR’s Housing Opportunity Fund grants help us raise awareness about the issue and make a real difference in communities across the country.”

Grants are awarded twice every year for up to $5,000 per local Realtor association. Funding can be used for housing symposia, home buyer education or housing fairs, counseling and financial literacy efforts, down payment or closing cost financial assistance programs, public opinion surveys, and Realtor affordable housing education.

Through NAR’s $50,950 in funding, 16 Realtor associations in South Carolina, North Carolina, Connecticut, Maryland, Florida, Kentucky, Illinois, Louisiana, and Virginia received financial support. Grants ranged from $1,450 to $5,000 and will be used to help start or expand affordable housing programs.