Real Estate News 11/27/2024

Today’s News Synopsis:

Following years of litigation, the National Association of Realtors (NAR) agreed to pay $418 million to settle a series of high-profile antitrust lawsuits filed in 2019 on behalf of home sellers. According to discount real estate brokerage Redfin, early findings reveal that buyer’s agent commissions have remained stable despite the shifts.

In The News:

Forbes Advisor – “Buyer’s Agent Commissions Hold Steady Despite Recent Real Estate Industry Shift“ (11-26-24)

“Until this change, the typical commission ranged from 5% to 6% of a home’s sale price, with the buyer’s agent traditionally receiving a portion of the listing agent’s total commission. The average buyer’s commission was 2.43% on January 1, 2024, falling to 2.35% at the beginning of August 2024 (before the implementation of the new rules).”

The Economic Times – “Trump Tariffs proposal impact explained: Will Americans end up paying huge extra money?“ (11-26-2024)

“President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States, as per a report”

Redfin –  “Investor Home Purchases Plateau After a Pandemic-Era Rollercoaster Ride“(11-22-24)

“U.S. investor home purchases fell 2% year over year in the third quarter, a much smaller change than the swings of the last several years. Purchases are now back near pre-pandemic levels. ”

The Real Deal –  “NAR’s landmark settlement deal nears the finish line ” (11-26-24)

“The National Association of Realtors was expected to officially close the books on its antitrust fight over broker commissions this week, with a final hearing on its nine-figure settlement deal on Tuesday. .”

CNET –  “Mortgage Predictions: Uncertainty over Trump Sent Rates Higher. Here’s What’s Next” (11-21-24)

“2024 hasn’t been a good year for would-be homebuyers. The only silver lining was that 30-year mortgage rates were expected to drop to 6% by the end of December. In late summer, that forecast felt like a real possibility. ”