The following is a statement by National Association of Realtors President Ron Phipps.

The National Association of Realtors, on behalf of its 1.1 million members, their clients and customers, and the nations 75 million homeowners, urges Congress to resolve the mounting debt ceiling crisis before the August 2 deadline.

Until a resolution is reached, Congress will be unable to address the myriad issues facing the nations families, communities, and economy. The indecision in Congress is paralyzing progress on other fronts, and it is harming home buyer confidence and negatively affecting home sales.

Realtors sincerely hope that members of Congress can come together on this issue so that the country can move forward toward a housing and economic recovery.