By the NumbersFalling rents could help prospective buyers save upRealtor.com's latest rental report found that rent prices across the U.S. dipped in September, continuing a five-month trend.Dave GallagherOctober 23, 2023
IndustryNAR might have more paths to victory in commissions casesDefendants presented opening arguments during week one of the Sitzer/Burnett trial. An industry lawyer sees two additional ways they might prevail in court.Stephanie Reid-SimonsOctober 21, 2023
BrokeragesBrokerage Beat: News from United, KW, Engel & Völkers, eXpUnited DFW merges with Insight Realty; Keller Williams expands to Curaçao; E&V adds a third shop in coastal Massachusetts; eXp gains Missouri team.Real Estate News StaffOctober 21, 2023
IndustryA world of difference in commissions outside US, jurors toldOn Day 5 of the Sitzer/Burnett trial, plaintiffs focused on steering, high fees in the U.S., and how buyer agent pay is handled differently in other countries.Dave Gallagher, Austin AlonzoOctober 20, 2023
MLS/AssnReal Estate Board of New York to decouple buyer agent commissionThe board wrote that this change, which takes effect in January, “represents the future of how residential real estate is transacted.”AJ LaTraceOctober 20, 2023
By the NumbersMarket Moods: Interest rates aren’t spooking Mid-Atlantic buyersA Bright MLS survey found that for most buyers, high mortgage rates didn't affect their purchase decision, and many said it's gotten easier to find a home.Cheryl Reid-SimonsOctober 20, 2023
IndustryAttorneys spar over evidence of collusion in commissions trialOn Day 4 of the Sitzer/Burnett trial, an expert witness for the plaintiffs said the current commissions system is a "clear case" of collusion and price fixing.Dave Gallagher, Austin AlonzoOctober 19, 2023
By the NumbersRealtor.com and Homes.com neck-and-neck in traffic raceSeptember data from web traffic aggregator Comscore shows Realtor.com in second place and Homes.com coming in a close third.AJ LaTraceOctober 19, 2023
By the NumbersCan buyers overcome the psychological barrier of 8% rates?As mortgage rates continue to hit multi-decade highs, the industry waits to see how much it dries up demand.Dave GallagherOctober 19, 2023
By the NumbersHome sales fall below 4 million for the first time in 13 yearsThe summer sales slump continued through September, marking the seventh month of negative sales movement this year.AJ LaTraceOctober 19, 2023
IndustryTraining on trial as plaintiffs challenge commission strategiesMaterials painted 6% commissions as the goal, plaintiffs’ attorneys argued, while industry witnesses defended it as just a number, and negotiable.Dave Gallagher, Austin AlonzoOctober 18, 2023
IndustryIndustry leaders take the stage (via video) at Sitzer/BurnettPre-recorded depositions from Bob Goldberg, Gino Blefari and Gary Keller included tense exchanges about buyer-broker commissions.Dave Gallagher, Austin AlonzoOctober 17, 2023
AgentsRental income from ADUs now can be counted toward an FHA mortgageStarting this week, the FHA has tweaked its borrowing rules to promote accessory dwelling units as a way to boost housing inventory and affordability.AJ LaTraceOctober 17, 2023
Industry'Conspiracy' front and center as commissions trial kicks offOn day two of the Sitzer/Burnett trial, the plaintiffs presented opening arguments, while the defense said conspiracy claims are "conjecture."Dave Gallagher, Austin AlonzoOctober 17, 2023
By the NumbersBuilder confidence declines even as home starts riseRising mortgage rates have hit the construction sector hard, pushing confidence to the lowest level since January despite an uptick in housing starts.Dave Gallagher, AJ LaTraceUpdated October 18, 2023
By the NumbersBucking seasonal trends, home inventory is risingInventory could keep increasing as potential homebuyers ‘hit the brakes’ while mortgage rates remain elevated. Price cuts are also higher than usual.Dave GallagherOctober 17, 2023
IndustryJury selected for landmark Sitzer/Burnett trialLawyers jostled for position and weeded out ineligible jurors, including many who are members of the plaintiff class (Missouri home sellers).Austin AlonzoOctober 16, 2023
By the NumbersForeclosure filings and debt are rising, but no need to panic yetOverall filings remain low but economic stress in the form of increasing credit card debt and depleted savings could push them higher.Dave GallagherOctober 16, 2023
MLS/AssnJudge reaffirms agents’ right to create listing floor plansTwo cases that attracted national attention move toward a quiet conclusion, with a judge ruling that floor plans aren’t the same as building designs.Cheryl Reid-SimonsOctober 15, 2023
IndustrySitzer/Burnett: What to expect at trialStarting Oct. 16, NAR and other defendants will present their case to a jury that could decide how agent commissions are paid.Dave GallagherOctober 14, 2023