Housing Bill Becomes Law Automatically After Congress Overrides Potential Veto

The 21st Century Road to Housing Act became U.S. federal law at 12:01 a.m. on Saturday without President Trump's signature. Trump said on Friday that he would not sign the measure and linked his decision to the Senate's failure to pass the SAVE America Act.

The legislation cleared the House by a 358-32 vote and the Senate by an 85-5 margin. Both tallies surpass the two-thirds threshold required to override a veto. Trump had canceled a planned signing ceremony in June over the same demand.

Senate Majority Leader John Thune said last month that there is not enough support in the Republican caucus to eliminate the filibuster and advance the SAVE America Act. The New York Times reported that Trump's announcement reflects a rift between him and Senate Republicans.

The National Association of Realtors reported that the median price of an existing home sold in June reached $440,600, up 1.8 percent from a year earlier.